Essential Properties Realty Trust Amends Credit Agreement; Increases Revolver to $1.3B

What Happened
Essential Properties Realty Trust, Inc. (EPRT) filed an 8-K reporting that on September 14, 2026 its operating partnership entered into an eighth amendment to its Amended and Restated Credit Agreement with Wells Fargo Bank, N.A., as Administrative Agent and the lenders party thereto. The amendment increases the commitments under the Revolving Credit Facility from $1.0 billion to $1.3 billion, reduces pricing under the margin grid for the revolver and term loans, releases subsidiary guarantors from guarantee obligations, and resets the accordion feature to permit $700.0 million of additional availability. In connection with the amendment, the company repaid and terminated its Capital One credit agreement.

Key Details

• Amendment date: September 14, 2026.
• Revolving facility increased from $1.0 billion to $1.3 billion.
• Accordion reset to allow up to $700.0 million of additional availability.
• Pricing margin grid reduced for the revolver and term loans (lower borrowing cost).
• Subsidiary Guarantors released from guarantee obligations; Capital One credit agreement repaid in full and terminated.

Why It Matters
This action improves the company’s liquidity and borrowing flexibility by expanding the revolver and enabling further capacity through the accordion. Lowered pricing in the margin grid can reduce interest expense on future borrowings. Releasing subsidiary guarantors and terminating the Capital One facility simplify the company’s debt structure and may reduce administrative burdens. For investors, these changes are material for EPRT’s financing cost and capital structure but do not include any earnings or operational guidance—monitor future disclosures for impacts on interest expense or covenant terms.