DALLAS: Spirit Realty Capital announced that the company has closed on the final incremental term loan under the accordion feature of the previously announced $200 million unsecured term loan facility, raising a total of $400 million under the unsecured term loan facility.
The incremental term loan bears interest at LIBOR plus 150 basis points. This financing increases Spirit’s available liquidity, including cash and revolving credit capacity, to approximately $900 million.
Spirit Realty Capital Inc. is a premier net-lease REIT that primarily invests in single-tenant, operationally essential real estate assets, subject to long-term leases.