trending Market Intelligence /marketintelligence/en/news-insights/trending/ogj-srvyw8z0vyd8vgz2bw2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

STORE Capital boosts revolver to $600M

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition

Blog

Corporate Credit Risk Trends in Developing Markets: A Probability of Default Perspective


STORE Capital boosts revolver to $600M

STORE Capital Corp. expanded its unsecured revolving credit facility to $600 million from $500 million and detailed its transactions during the fourth quarter of 2017.

The single-tenant net-lease real estate investment trust also expanded the facility's accordion feature to $800 million from $300 million, bringing the total borrowing capacity to as much as $1.4 billion. The amended facility is due February 2022, with two six-month conditional extension options.

During the fourth quarter of 2017, STORE Capital originated investments for 110 property locations for a total of $366.2 million, with a weighted average initial cap rate of 7.9%. The company said the investments resulted in 15 new customers.

Also during the period, the company sold 15 properties for a total net gain of $3.8 million, and issued about 3.7 million shares under its $400 million at-the-market offering program for net proceeds of roughly $94.7 million.