---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-113644"
form_type: "8-K"
ticker: "ADC"
cik: "0000917251"
company_name: "AGREE REALTY CORP"
filed_at: "2025-11-18T23:59:59+00:00"
generated_at: "2026-05-16T19:03:19.685448+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Agree Realty enters $350M term loan facility, cuts credit spreads on revolving and term loans

## Summary
- New $350M unsecured delayed draw term loan matures May 15, 2031; no borrowings outstanding at signing.
- First Amendment to revolving credit reduces SOFR credit spread adjustment from 10bps to 0bps; rate now SOFR + 72.5bps.
- Second Amendment to existing term loan cuts credit spread adjustment from 10bps to 0bps; fixed swap rate now 4.37%.
- Facility includes option to increase aggregate loans to $500M, subject to lender consent.
- Proceeds for general corporate purposes; lenders include PNC, Wells Fargo, and JPMorgan.

## SEC filing metadata
- accession: 0001104659-25-113644
- form_type: 8-K
- ticker: ADC
- cik: 0000917251
- company_name: AGREE REALTY CORP
- filed_at: 2025-11-18T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/917251/000110465925113644/0001104659-25-113644-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/917251/000110465925113644/adc-20251117x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-113644
- JSON: https://secwatch.observer/filing/0001104659-25-113644.json
- Plain text: https://secwatch.observer/filing/0001104659-25-113644.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.