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STORE Capital Expands Credit Facility With KeyBanc, Others

September 23, 2015, 07:27 AM
Filed Under: Real Estate

STORE Capital Corporation, an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, today announced that it has expanded its unsecured credit facility from $300 million to $400 million and the accordion feature from $200 million to $400 million for a total maximum borrowing capacity of $800 million. The credit facility matures in September 2019 and includes a one-year extension option subject to certain conditions. The expanded credit facility is effective September 22, 2015.
 
KeyBanc Capital Markets Inc. and Wells Fargo Securities, LLC are acting as Joint Lead Arrangers and Joint Book Runners of this expanded credit facility, with KeyBank National Association as Administrative Agent; Wells Fargo Bank, National Association as Syndication Agent; BMO Harris Bank, N.A., Regions Bank and SunTrust Bank as Co-Documentation Agents.

“Expanding our unsecured credit facility on highly attractive terms is part of our strategy to keep a flexible capital structure and we appreciate the continued support of our lending partners,” said Christopher Volk, President and Chief Executive Officer. “The increased borrowing capacity, coupled with our A+ rated long-term debt conduit, STORE Master Funding, and our well-diversified collateral pool with over $1 billion in unencumbered assets, equips us with a highly-efficient capital structure to meet the continued strong demand for our flexible net-lease financing solutions.”

STORE Capital Corporation is an internally managed net-lease real estate investment trust, or REIT, that is the leader in the acquisition, investment and management of Single Tenant Operational Real Estate, which is its target market and the inspiration for its name. STORE Capital is one of the largest and fastest growing net-lease REITs and owns a large, well-diversified portfolio that consists of investments in over 1,200 property locations, substantially all of which are profit centers, in 46 states.







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