ARKO Corp. (ARKO): debt financing — ARKO subsidiary increases real estate credit facility by $34.2M to $83.7M with M&T Bank

ARKO Corp.

GPM Investments amended credit agreement, raising real estate loans from $49.5M to $83.7M.
New $34.2M term note (Real Estate Note D) matures May 2030, amortizing 15 years, at SOFR+2.25%.
Existing real estate loans now also bear interest at SOFR+2.25%; equipment line rate set similarly.
Third Amended and Restated Master Covenant Agreement conforms to new terms; existing covenants unchanged.
Borrower paid a 1% commitment fee ($342k) on the new note and all administrative expenses.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

ARKO Corp. amended credit facility of The additional $34.2 million principal amount of the Real Estate Loans matures in May 2030 with M&T Bank at bears interest at SOFR plus 2.25% maturing May 2030.

Instrument: credit facility
Principal: The additional $34.2 million principal amount of the Real Estate Loans matures in May 2030
Counterparty: M&T Bank
Rate: bears interest at SOFR plus 2.25%
Maturity: May 2030
Event: amendment

Exact text from the filing

The M&T Credit Agreement Amendment amended that certain Third Amended and Restated Credit Agreement, dated November 21, 2023 by and among GPM, M&T Bank and the other parties thereto and increased the aggregate original principal amount of the real estate loans thereunder (the “ Real Estate Loans ”) from $49.5 million to $83.7 million. The additional $34.2 million principal amount of the Real Estate Loans matures in May 2030 and is payable in monthly installments based on a fifteen-year amortization schedule, with the balance of the loan payable at maturity, and bears interest at SOFR plus 2.25%.

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Source: SEC EDGAR

accession 0000950170-25-072723

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