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Stock impact report

FCPT Prices $125 Million Private Placement of Senior Unsecured Notes

Four Corners Property Trust, Inc. (FCPT) 
Last four corners property trust, inc. earnings: 2/12 04:05 pm Check Earnings Report
Company Research Source: Business Wire
MILL VALLEY, Calif.--(BUSINESS WIRE)--Four Corners Property Trust, Inc. (“FCPT” or the “Company”, NYSE: FCPT) today announced that it has entered into agreements to issue $125 million of senior unsecured notes (the “Notes”). The Notes consist of $75.0 million of notes with a ten-year term funding on April 8, 2020 and maturing on April 8, 2030, and priced at a fixed interest rate of 3.20%, and $50.0 million of notes with a nine-year term funding on June 9, 2020 and maturing on June 9, 2029, and priced at a fixed interest rate of 3.15%. In connection with this offering, the Company terminated interest rate swaps entered into previously to hedge the interest rate of this offering at a loss which will be amortized over the life of the Notes and add approximately 0.67% to the all-in annual interest rate expense.With the issuance, the Company’s weighted-average debt maturity is approximately 5.4 years, excluding the Company’s unsecured revolving credit facility. Net proceeds from the of Show less Read more
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