Americold Realty Trust's largest shareholder, YF ART Holdings LP, entered into a margin loan agreement with Morgan Stanley Senior Funding Inc. as administrative agent and various lenders.
YF ART has borrowed an aggregate $368 million under the margin loan agreement as of March 8. If YF ART defaults on the loan, the secured parties under the agreement may foreclose on the pledged shares and seek recourse against YF ART.
YF ART pledged 54,952,774 common shares of Americold to secure the loan. The pledged shares represent 38.6% of Americold's issued and outstanding common shares as of March 8.
