Spirit Realty Capital (SRC) has released an update to notify the public and investors about a termination of a material definitive agreement.
Realty Income entered into two amended and restated term loan agreements totaling $1.3 billion with Wells Fargo Bank as the Administrative Agent. The agreements, effective January 23, 2023, coincided with the completion of a merger. Realty Income assumed Spirit OP’s existing term loans, leading to the release of Spirit OP and Spirit from their obligations under the previous loan agreements. The new term loan agreements restructure the financial responsibilities post-merger.
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