0001144204-14-020129.txt : 20140402 0001144204-14-020129.hdr.sgml : 20140402 20140402092600 ACCESSION NUMBER: 0001144204-14-020129 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20140331 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140402 DATE AS OF CHANGE: 20140402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: American Realty Capital Properties, Inc. CENTRAL INDEX KEY: 0001507385 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35263 FILM NUMBER: 14736331 BUSINESS ADDRESS: STREET 1: 405 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-415-6500 MAIL ADDRESS: STREET 1: 405 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 8-K 1 v373644_8k.htm FORM 8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

_________________________

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

 

April 2, 2014 (March 31, 2014)
Date of Report (date of earliest event reported)

_________________________

AMERICAN REALTY CAPITAL PROPERTIES, INC.

(Exact name of Registrant as specified in its charter)

 

_________________________

Maryland 001-35263 45-2482685
(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

405 Park Avenue
New York, New York 10022
(Address of principal executive offices, including zip code)

 

(212) 415-6500
(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)
_________________________

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

  o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
     

 

  o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 
 

 

Item 8.01. Other Events.

 

American Realty Capital Properties, Inc. Receives $275.0 Million of Additional Commitments to its Senior Corporate Credit Facility, Allowing for Total Financing Under Credit Facilities of $3.15 Billion

 

On March 31, 2014, American Realty Capital Properties, Inc. (the “Company”) entered into an augmenting lender supplement to its senior corporate credit facility (the “Credit Facility”), through its operating partnership, with the lenders party thereto and other related parties, by which the Company received $275.0 million of additional commitments to the Credit Facility from three new lenders.

 

With the assumption of the $150.0 million CapLease, Inc. secured credit facility in November 2013, the Company’s aggregate financing under its credit facilities could total $3.15 billion.

 

With $3.15 billion of possible financing under its credit facilities, the Company has $729.2 million of aggregate available borrowing capacity as of the date of this filing in the form of undrawn commitments, which may be used to finance acquisitions and for other general corporate purposes.

 

A copy of the press release relating to the foregoing, which was issued on April 2, 2014, is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01. Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
99.1   Press Release issued April 2, 2014

 

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

 
     
  AMERICAN REALTY CAPITAL PROPERTIES, INC.
     
Date: April 2, 2014 By: /s/ Nicholas S. Schorsch
  Name: Nicholas S. Schorsch
  Title:

Chief Executive Officer and

Chairman of the Board of Directors

   

 

 

 
 

EX-99.1 2 v373644_ex99-1.htm EXHIBIT 99.1

 

FOR IMMEDIATE RELEASE

 

American Realty Capital Properties Receives Additional Financing Commitments to Allow for Total Financing Under Credit Facilities of $3.15 Billion

 

New York, New York, April 2, 2014 – American Realty Capital Properties, Inc. (“ARCP”) (NASDAQ: ARCP) announced today that it has received $275.0 million of new commitments from three new lenders under its senior corporate credit facility to allow for $3.15 billion of total financing under its credit facilities. With these additional commitments to its senior facility, ARCP now has $729.2 million of aggregate available borrowing capacity in the form of undrawn commitments.

 

David S. Kay, President of ARCP, noted, “We are pleased to have added three new banks to our lending group under our senior corporate facility, increasing total commitments by $275.0 million, all produced by the execution of our robust capital markets team. With total financings of as much as $3.15 billion under our credit facilities, we expect to have ample flexibility to fund our portfolio’s expansion through singular and portfolio acquisitions. The increased commitments to our senior facility are a direct reflection of the credit quality of our portfolio, our lack of sensitivity to movements in interest rates, the lengthening of our debt maturities and our recent capital transactions which have increased our unencumbered assets, lowered our cost of debt and delevered our balance sheet. The greater financing availability afforded to us by these additional commitments is significant in our growth into the leading REIT.”

 

About ARCP

 

ARCP is a self-managed publicly traded Maryland corporation listed on The NASDAQ Global Select Market, focused on acquiring and owning single tenant freestanding commercial properties subject to net leases with high credit quality tenants. Additional information about ARCP can be found on its website at www.arcpreit.com. ARCP may disseminate important information regarding it and its operations, including financial information, through social media platforms such as Twitter, Facebook and LinkedIn.

 

Forward-Looking Statements

 

Information set forth herein (including information included or incorporated by reference herein) contains "forward-looking statements" (as defined in Section 21E of the Securities Exchange Act of 1934, as amended), which reflect ARCP's expectations regarding future events. The forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements include, but are not limited to, market and other expectations, objectives, intentions and any expectations with respect to estimates of growth. Additional factors that may affect future results are contained in ARCP's filings with the SEC, which are available at the SEC's website at www.sec.gov. ARCP disclaims any obligation to update and revise statements contained in these materials based on new information or otherwise.

  

 

Contacts

   

 

Anthony J. DeFazio

 

Brian S. Block, CFO, Treasurer, Secretary and EVP

DDCworks American Realty Capital Properties, Inc.
tdefazio@ddcworks.com bblock@arcpreit.com
Ph: 484-342-3600 Ph: 212-415-6500

 

 
 

 

 

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