FCPT Reports Material Definitive Agreement and Financials

TL;DR

FCPT signed a new deal, expect financial updates.

AI Summary

On January 31, 2025, Four Corners Property Trust, Inc. (FCPT) entered into a material definitive agreement related to a financial obligation. The filing also includes Regulation FD disclosures and financial exhibits.

Why It Matters

This filing indicates a significant financial commitment or obligation for Four Corners Property Trust, Inc., which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The entry into a material definitive agreement and creation of a financial obligation suggests potential changes in the company's financial leverage or operational commitments.

Key Players & Entities

• Four Corners Property Trust, Inc. (company) — Registrant
• January 31, 2025 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share FCPT New York S
• $350.0 million — ity in an aggregate principal amount of $350.0 million (the "Revolving Credit Facility") and a
• $590.0 m — ity in an aggregate principal amount of $590.0 million, comprised of (i) a $225.0 millio
• $225.0 million — t of $590.0 million, comprised of (i) a $225.0 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
• $85.0 million — (the "Term Loan A-4 Facility" and (v) a $85.0 million term credit facility with a maturity da
• $450.0 m — ditional aggregate amount not to exceed $450.0 million, subject to certain conditions, i

Filing Documents

• fcpt-20250131.htm (8-K) — 57KB
• fcpt-ex10_1.htm (EX-10.1) — 1674KB
• fcpt-ex10_2.htm (EX-10.2) — 128KB
• fcpt-ex99_1.htm (EX-99.1) — 13KB
• img110082884_0.jpg (GRAPHIC) — 1418KB
• img110082884_1.jpg (GRAPHIC) — 87KB
• 0000950170-25-011449.txt ( ) — 4296KB
• fcpt-20250131.xsd (EX-101.SCH) — 24KB
• fcpt-20250131_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 31, 2025, Four Corners Property Trust, Inc. (the "Company") and its subsidiary, Four Corners Operating Partnership, LP (the "Borrower"), entered into a Fourth 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, which amends and restates in its entirety an existing Third Amended and Restated Revolving Credit and Term Loan Agreement dated as of October 25, 2022 by and among the Company, the Borrower, the Agent, the Lenders and the other agents party thereto. The Loan Agreement provides for a revolving credit facility in an aggregate principal amount of $350.0 million (the "Revolving Credit Facility") and a term loan facility in an aggregate principal amount of $590.0 million, comprised of (i) a $225.0 million term credit facility with a maturity date of February 1, 2029 (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 February 1, 2027 (the "Term Loan A-3 Facility"), (iv) a $90.0 million term credit facility with a maturity date of February 1, 2028 (the "Term Loan A-4 Facility" and (v) a $85.0 million term credit facility with a maturity date of March 14, 2027 (the "Terms Loan A-5 Facility") and collectively with the Term Loan A-1 Facility, Term Loan A-2 Facility, the Term Loan A-3 Facility and the Term Loan A-4 Facility, the "term loan facility" and each a "term loan"). The Loan Agreement has 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 $450.0 million, subject to certain conditions, including one or more new or existing lenders agreeing to provide commitments for such

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On January 31, 2025, the Company issued a press release announcing its entry into the Loan Agreement. 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 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit No. Exhibit Description 10.1 Fourth Amended and Restated Revolving Credit and Term Loan Agreement, dated January 31, 2025, among Four Corners Operating Partnership, LP, Four Corners Property Trust, Inc., certain lenders party thereto and JPMorgan Chase Bank, N.A. as administrative agent. 10.2 Fourth Amended and Restated Parent Guaranty, dated January 31, 2025, by Four Corners Property Trust, Inc. and Four Corners GP, LLC, for the benefit of JPMorgan Chase Bank, N.A. 99.1 Press Release Dated January 31, 2025. 104 Cover Page Interactive Data File (embedded within 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. Date: January 31, 2025 By: /s/ James L. Brat James L. Brat Chief Operations Officer, General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR