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American Finance Trust credit facility upsized to $540M

American Finance Trust Inc. secured a $125 million upsizing of a revolving unsecured corporate credit facility to a total of $540 million.

Compass Bank and Synovus Bank joined the group of lenders behind the facility, according to a release.

The facility, which bears an interest rate of London interbank offered rate plus an applicable margin of between 1.60% and 2.20%, comes with an accordion feature that allows it to be expanded to $915 million, subject to securing lender commitments. The company has a one-time right to extend the maturity date by an additional year from April 26, 2022.

A total of $261 million was drawn against the facility as of Sept. 30.

The real estate investment trust, which focuses on retail and distribution-related commercial real estate, will funnel the borrowings toward property purchases and for general corporate purposes.