{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-144172","form_type":"8-K","ticker":"FCPT","cik":"0001650132","company_name":"Four Corners Property Trust, Inc.","filed_at":"2026-04-07T23:59:59+00:00","discovered_at":"2026-05-14T18:02:32.663021+00:00","generated_at":"2026-05-15T07:02:14.045955+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"FCPT closes $200M seven-year delayed draw term loan; $50M drawn at closing","bullets":["Facility: $200M senior unsecured delayed draw term loan; $50M funded on closing, $150M to fund acquisitions in late Q2/early Q3 2026.","Interest: 1.25% over SOFR (all-in ~4.9%), with 96% of term loans hedged at 3.0% blended rate; 98% of total debt fixed through Nov 2027.","Maturity: April 6, 2033; prepayment fees apply for first two years, none after year two.","Financial covenants include total leverage ≤60%, fixed charge coverage ≥1.50x, unencumbered leverage ≤60%.","Pro forma full draw: run-rate leverage ~5.4x, within 5.0x-6.0x target range; spread to historic acquisition yields ~200+ bps."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-144172","json":"https://secwatch.observer/filing/0001193125-26-144172.json","markdown":"https://secwatch.observer/filing/0001193125-26-144172.md","text":"https://secwatch.observer/filing/0001193125-26-144172.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1650132/000119312526144172/0001193125-26-144172-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1650132/000119312526144172/fcpt-20260406.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T07:02:14.045955+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1bb49811ca932c1210f23f1cf2e071db5739db12","claim":"Four Corners Property Trust, Inc. incurred term loan of $200.0 million with The Huntington National Bank at SOFR plus an applicable margin ranging from 1.15% to 2.20% maturing April 6, 2033.","evidence_excerpt":"The Loan Agreement provides for a senior unsecured delayed draw term loan facility in an aggregate principal amount of $200.0 million (the “Term Loan Facility”), $50.0 million of which was funded on the Closing Date.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1650132/000119312526144172/0001193125-26-144172-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$200.0 million"},{"label":"Counterparty","value":"The Huntington National Bank"},{"label":"Rate","value":"SOFR plus an applicable margin ranging from 1.15% to 2.20%"},{"label":"Maturity","value":"April 6, 2033"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"60ececab34b9c3a3952c10a10eb85ca32711e193","claim":"Four Corners Property Trust, Inc. entered into Loan Agreement with The Huntington National Bank as administrative agent, with Huntington and U.S. Bank, N.A. acting as Joint Bookrunners and Joint Lead Arrangers and additional lenders included Fifth Third Bank, N.A. which acted as Joint Lead Arranger and Raymond James Bank which acted as Documentation Agent valued at $200.0 million (effective 2026-04-06).","evidence_excerpt":"On April 6, 2026 (the “Closing Date”), Four Corners Property Trust, Inc. (the “Company”) and its subsidiary, Four Corners Operating Partnership, LP (the “Borrower”), entered into a Term Loan Agreement (the “Loan Agreement”) with The Huntington National Bank (\"Huntington\") as administrative agent, with Huntington and U.S. Bank, N.A. acting as Joint Bookrunners and Joint Lead Arrangers and additional lenders included Fifth Third Bank, N.A. which acted as Joint Lead Arranger and Raymond James Bank which acted as Documentation Agent (the “Lenders”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1650132/000119312526144172/0001193125-26-144172-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"The Huntington National Bank as administrative agent, with Huntington and U.S. Bank, N.A. acting as Joint Bookrunners and Joint Lead Arrangers and additional lenders included Fifth Third Bank, N.A. which acted as Joint Lead Arranger and Raymond James Bank which acted as Documentation Agent"},{"label":"Value","value":"$200.0 million"},{"label":"Effective","value":"2026-04-06"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}