---
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"
generated_at: "2026-05-15T07:02:14.045955+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# FCPT closes $200M seven-year delayed draw term loan; $50M drawn at closing

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-144172
- JSON: https://secwatch.observer/filing/0001193125-26-144172.json
- Plain text: https://secwatch.observer/filing/0001193125-26-144172.txt

## Key facts
- Debt Financings
  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.
  - Instrument: term loan
  - Principal: $200.0 million
  - Counterparty: The Huntington National Bank
  - Rate: SOFR plus an applicable margin ranging from 1.15% to 2.20%
  - Maturity: April 6, 2033
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1650132/000119312526144172/0001193125-26-144172-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: 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
  - Value: $200.0 million
  - Effective: 2026-04-06
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1650132/000119312526144172/0001193125-26-144172-index.htm

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