American Realty Capital Global terminates Barclays credit facility

By Marisa Wong

Morgantown, W.Va., March 17 – American Realty Capital Global Trust II, Inc. terminated its credit agreement dated Jan. 28, 2015 with Barclays Bank plc as administrative agent, bookrunner and lead arranger, according to an 8-K filing with the Securities and Exchange Commission.

The company terminated the credit facility on March 11 and repaid all outstanding obligations under the facility.

The termination gives the company more flexibility with its investment strategy, while releasing roughly $20 million of cash previously pledged to the credit facility and unencumbering two U.S. assets.

The company intends to seek lower-cost local secured financing with longer maturities for those assets, the filing said.

The real estate investment trust is based in New York.

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