Americold Realty Trust, Inc. announced it has extended and upsized its senior unsecured credit facilities from $1.5 billion to approximately $2.0 billion. The refinance closed on August 23, 2022. The senior unsecured credit facilities enhance the Company's strong liquidity position and extend its well-staggered debt maturity profile.

Additionally, the Company plans to use a portion of the unsecured credit facilities to refinance its last significant tranche of secured, CMBS debt, which matures May 1, 2023, but is prepayable at par beginning November 1, 2022. Amricold plans to enter into interest rate swaps to fix a significant portion of the unsecured credit facilities, which will maintain pro forma fixed rate total indebtedness in line with the Company's historical levels. The revolving credit facility is comprised of a $575 million U.S. dollar component and a $575 million U.S. dollar equivalent, multicurrency component.

The revolving credit facility matures in August 2027, inclusive of two, six-month extension options. Based on Americold's current credit ratings, the revolving credit facility bears interest at 85 basis points over the adjusted SOFR rate. Based on Americold's current credit ratings, the revolving credit facility carries an annual facility fee of 20 basis points.

The $375 million U.S. dollar term loan A-1 facility, upsized from $175 million previously, matures in August 2027, inclusive of two, twelve-month extension options. The Company used the incremental $200 million of proceeds to repay a portion of the revolving credit facility's U.S. dollar balance.