Spirit Realty Capital, Inc. announced that the company has closed on a $1.2 billion multicurrency unsecured revolving credit facility with an accordion feature up to $1.7 billion. The amended credit facility, which amends and restates the company's existing $800 million revolving credit facility, matures in March 2026 and can be extended to March 2027 at the company's option. The amended credit facility interest rate is based on a pricing grid with a range of 72.5 to 140 basis points over an adjusted SOFR rate, with respect to borrowings in U.S. dollars.

Based on Spirit's current credit rating and leverage ratio, the company's applicable margin is 77.5 basis points with a facility fee of 15 basis points. In connection with the company's ongoing environmental, social and governance ("ESG") initiatives, at the Company's option, the amended credit facility may be further amended to incorporate ESG targets to be agreed among the parties. Upon the achievement of such ESG targets, pricing may be reduced.

A total of 15 lenders participated in the amended revolving credit facility, including JP Morgan Chase Bank, N.A. as a Joint Bookrunner, Joint Lead Arranger, Administrative Agent and J.P. Morgan Securities LLC as Sustainability Structuring Agent. Wells Fargo Securities, LLC and Truist Securities, Inc. served as Joint Bookrunners and Joint Lead Arrangers. BofA Securities, Inc., Goldman Sachs Bank USA, Mizuho Bank Ltd., Morgan Stanley Senior Funding, Inc., Regions Capital Markets and Royal Bank of Canada served as Joint Lead Arrangers.

Associated Bank, National Association, The Bank of Nova Scotia, Capital One, National Association, Fifth Third Bank, The Huntington National Bank, National Association and TD Bank, N.A. served as Managing Agents.