American Realty Capital gets $100 million credit agreement via Barclays

By Toni Weeks

San Luis Obispo, Calif., Jan. 28 – American Realty Capital Global Trust II, Inc. through its operating partnership entered into a $100 million credit agreement with Barclays, according to a press release.

The interest rate is Libor plus 150 basis points to 210 bps, based on leverage.

The company may increase its borrowings to up to $1.25 billion with lender commitment.

Proceeds, along with cash on hand, will be used for portfolio acquisitions.

“This credit facility is an important first step for ARC Global II in creating not only an enhanced capital structure but also an efficient mechanism for ARC Global II to match fund our European acquisitions with leverage in like-kind currencies (British pounds and euros),” president Andrew Winer said in the press release.

“With the additional financing available through our new credit facility, we expect to have greater flexibility to execute on our acquisition strategy of purchasing strong office, industrial and special-purpose net lease assets in both the U.S. and Europe.”

The New York company is a global sale leaseback-focused real estate investment trust that intends to qualify as a REIT with the taxable year ended Dec. 31.

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