Store Capital amends credit agreement for $350 million incremental commitments

By Wendy Van Sickle

Columbus, Ohio, March 14 – Store Capital LLC, formerly Store Capital Corp., entered into an incremental amendment to its Feb. 3 credit agreement with KeyBank NA as administrative agent to increase the commitments under the revolver by $150 million and the term loan by $200 million, according to an 8-K filing with the Securities and Exchange Commission.

The company used proceeds from the term loan increase, cash on hand and revolver draws to pay down $515 million of debt under the Feb. 3 credit agreement with Credit Suisse AG, Cayman Islands Branch, Citibank, NA and other lenders.

In connection with the amendment, the $200 million increase in the term loan was effectively converted to a fixed rate of 5.17% for the remaining term of the loan, through the use of an interest rate swap.

Store Capital is a Scottsdale, Ariz.-based net-lease real estate investment trust that invests in single tenant operational real estate.

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