American Realty closes $200 million four-year revolving loan facility

By Susanna Moon

Chicago, Sept. 27 - American Realty Capital Trust V, Inc. obtained a $200 million four-year revolving credit facility with an accordion to boost commitments to up to $750 million.

Interest on the loans will be Libor plus 160 basis points to 220 bps, based on leverage.

The company inked the credit agreement on Monday with J.P. Morgan Securities as the joint bookrunner and lead arranger, according to an 8-K filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA is the administrative agent, letter of credit issuer, swingline lender and a lender. Regions Capital Markets is the joint bookrunner, joint lead arranger and syndication agent, and affiliate Regions Bank is a lender.

The agreement includes a $25 million swingline subfacility and a $20 million letter of credit subfacility.

Proceeds, along with cash on hand from the company's ongoing initial public offering, will be used to finance portfolio acquisitions and for general corporate purposes.

The facility will mature on Sept. 23, 2017 unless the company elects to extend the maturity date by one year to Sept. 23, 2018.

The company said that it also completed the acquisition of 47 properties from Inland American Real Estate Trust, Inc. on Sept. 24 for $430.2 million.

American Realty is a New York-based real estate investment company with a focus on single-tenant freestanding commercial properties.

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