Essential Properties Realty Trust, Inc. announced the closing of an amendment of the Company?s Amended and Restated Credit Agreement, which added a new unsecured $450 million up to 5.5-year term loan facility with a delayed draw feature (the 2030 Term Loan). The 2030 Term Loan initially bears interest at an annual rate of term SOFR plus an applicable margin. If the extension options are fully exercised by the Company, the 2030 Term Loan will mature in January 2030.

At closing, the Company drew an initial funding amount of $320 million, a portion of which was used to pay off the outstanding balance on the Company?s revolving credit facility. The 2030 Term Loan has a 6-month delayed funding feature, allowing the Company to borrow the remaining $130 million through January 2025. The Company entered into swap agreements for the initial funding amount for an effective all-in rate of approximately 4.99%.