FCPT upsizes credit facility to $1.15B, extends maturities, improves spreads

Four Corners Property Trust, Inc.

New $400M term loan maturing Aug 2031; total facility increased from $940M to $1.15B.
$190M of near-term loans repaid; $210M incremental proceeds for investments and corporate purposes.
Credit spreads improved by 5-10 bps, saving ~$450K annually in interest expense.
Existing $85M term loan extended to March 2028 with one-year extension option.
On fully drawn basis, 72% of term loans swapped to fixed at 3.1% blended rate; overall debt 82% fixed.

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