Four Corners Property Trust Reports New Financial Obligation

Ticker: FCPT · Form: 8-K · Filed: Mar 14, 2024 · CIK: 1650132

Four Corners Property Trust, Inc. 8-K Filing Summary
FieldDetail
CompanyFour Corners Property Trust, Inc. (FCPT)
Form Type8-K
Filed DateMar 14, 2024
Risk Levelmedium
Pages4
Reading Time5 min
Key Dollar Amounts$0.0001, $250.0 million, $430.0 m, $150.0 million, $100.0 million
Sentimentneutral

Sentiment: neutral

Topics: debt, financing

Related Tickers: FCPT

TL;DR

FCPT just took on a new debt. Details TBD.

AI Summary

On March 14, 2024, Four Corners Property Trust, Inc. (FCPT) filed an 8-K report detailing a new direct financial obligation. The filing indicates the creation of a financial obligation, though specific details regarding the amount, terms, or counterparty are not provided in this excerpt.

Why It Matters

This filing signals a new debt or financial commitment for Four Corners Property Trust, which could impact its financial leverage and future cash flows.

Risk Assessment

Risk Level: medium — The creation of a new financial obligation introduces potential leverage and repayment risks for the company.

Key Players & Entities

  • Four Corners Property Trust, Inc. (company) — Registrant
  • March 14, 2024 (date) — Date of Report

FAQ

What is the nature of the new direct financial obligation?

The filing states the creation of a direct financial obligation but does not provide specific details about its nature, amount, or terms in this excerpt.

When was this financial obligation reported?

The obligation was reported on March 14, 2024.

Is this obligation related to an acquisition or expansion?

The filing does not specify the reason for the new financial obligation.

Who is the counterparty to this financial obligation?

The filing does not disclose the counterparty involved in the financial obligation.

What is the principal amount of the new financial obligation?

The specific dollar amount of the new financial obligation is not detailed in this excerpt.

Filing Stats: 1,238 words · 5 min read · ~4 pages · Grade level 10.5 · Accepted 2024-03-14 16:18:12

Key Financial Figures

  • $0.0001 — ange on Which Registered Common Stock, $0.0001 par value per share FCPT New York Stock
  • $250.0 million — ity in an aggregate principal amount of $250.0 million (the "Revolving Credit Facility") and a
  • $430.0 m — ity in an aggregate principal amount of $430.0 million, comprised of (i) a $150.0 millio
  • $150.0 million — t of $430.0 million, comprised of (i) a $150.0 million term credit facility with a maturity da
  • $100.0 million — (the "Term Loan A-1 Facility"), (ii) a $100.0 million term credit facility with a maturity da
  • $90.0 million — (the "Term Loan A-2 Facility"), (iii) a $90.0 million term credit facility with a maturity da
  • $350.0 m — ditional aggregate amount not to exceed $350.0 million, subject to certain conditions, i
  • $85.0 million — ity in an aggregate principal amount of $85.0 million (the "Term Loan A-5 Facility"). The mat
  • $265.0 m — ditional aggregate amount not to exceed $265.0 million, subject to certain conditions, i

Filing Documents

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 8.01 below is incorporated herein by reference.

01

Item 7.01 Regulation FD Disclosure. On March 14, 2024, Four Corners Property Trust, Inc. (the "Company") issued a press release announcing its entry into the Incremental Agreement (as defined below). The Company's press release is attached as Exhibit 99.1 hereto and is incorporated by reference in this Item 7.01. The information in this Item 7.01 and Exhibit 99.1 to this Form 8-K is deemed to be "furnished" and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall they be deemed to be incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

01

Item 8.01 Other Events. As previously disclosed, on October 25, 2022, the Company and its subsidiary, Four Corners Operating Partnership, LP (the "Borrower"), entered into a Third Amended and Restated Revolving Credit and Term Loan Agreement (the "Loan Agreement") with JPMorgan Chase Bank, N.A., as administrative agent (the "Agent"), and the lenders (the "Lenders") and other agents party thereto, that provided for a revolving credit facility in an aggregate principal amount of $250.0 million (the "Revolving Credit Facility") and a term loan facility in an aggregate principal amount of $430.0 million, comprised of (i) a $150.0 million term credit facility with a maturity date of November 9, 2025 (the "Term Loan A-1 Facility"), (ii) a $100.0 million term credit facility with a maturity date of November 9, 2026 (the "Term Loan A-2 Facility"), (iii) a $90.0 million term credit facility with a maturity date of January 9, 2027 (the "Term Loan A-3 Facility") and (iv) a $90.0 million term credit facility with a maturity date of January 9, 2028 (the "Term Loan A-4 Facility" and collectively with the Term Loan A-1 Facility, Term Loan A-2 Facility, and the Term Loan A-3 Facility, the "Term Loan Facility"). The Loan Agreement also included an accordion feature to increase the revolving commitments or add one or more tranches of term loans up to an additional aggregate amount not to exceed $350.0 million, subject to certain conditions, including one or more new or existing lenders agreeing to provide commitments for such increased amount. On March 14, 2024, the Company, the Borrower and Four Corners GP, LLC, a Delaware limited liability company, entered into a Waiver and Incremental Amendment No. 1 to Third Amended and Restated Revolving Credit and Term Loan Agreement (the "Amendment") with the Agent and the Lenders party thereto. The Amendment provides for, among other things, the incurrence of a new tranche of term loans under the Term Loan Facility in an aggregate princi

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit Description 10.1 Waiver and Incremental Amendment No. 1 to Third Amended and Restated Revolving Credit and Term Loan Agreement, dated March 14, 2024, among Four Corners Operating Partnership, LP., Four Corners Property Trust, Inc., Four Corners GP, LLC, certain lenders party thereto, JPMorgan Chase Bank, N.A. as administrative agent, and Barclays Bank PLC, as lead arranger. 99.1 Press Release Dated March 14, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FOUR CORNERS PROPERTY TRUST, INC. By: /s/ J AMES L. B RAT James L. Brat Chief Operations Officer, General Counsel, and Secretary Date: March 14, 2024

View Full Filing

View this 8-K filing on SEC EDGAR

View on ReadTheFiling | About | Contact | Privacy | Terms

Data from SEC EDGAR. Not affiliated with the SEC. Not investment advice. © 2026 OpenDataHQ.