FrontView REIT, Inc. has extended the maturity of its revolving credit facility and term loans to October 3, 2028, while reducing interest rate margins through a new amendment to its credit agreement. The move, disclosed in a Form 8-K filed with the Securities and Exchange Commission on October 19, 2026, adjusts the cost of capital for the Dallas-based real estate investment trust based on future credit ratings and leverage ratios.
The amendment, executed on October 15, 2026 by FrontView Operating Partnership LP, modifies the existing credit agreement originally dated September 6, 2024. JPMorgan Chase Bank, N.A. serves as the administrative agent for the facility. The primary changes involve a two-year extension of the maturity date for both the Revolving Credit Facility and the Term Loans, alongside a restructuring of the pricing grid to reflect potential improvements in the company's credit profile.
Under the revised terms, interest on the Revolving Credit Facility is calculated as the Secured Overnight Financing Rate (SOFR) plus an applicable margin. Before FrontView REIT obtains an investment-grade credit rating, these margins range from 1.00% to 1.65%, determined by the company's leverage ratio. Once an investment-grade rating is achieved, the margins decrease to a range of 0.675% to 1.35%, based on the specific credit rating received. The Term Loans follow a similar structure, with pre-rating margins ranging from 1.15% to 1.75% and post-rating margins ranging from 0.75% to 1.55%.
The agreement includes specific provisions for higher credit ratings relative to leverage levels. If FrontView REIT maintains a leverage ratio of 35% or less and achieves a Baa2/BBB rating, it will apply the lower margins and facility fees associated with Baa1/BBB+ ratings. Similarly, a leverage ratio of 35% or less combined with a Baa3/BBB- rating will trigger the pricing applicable to Baa2/BBB ratings. This mechanism allows the company to access cheaper borrowing costs if it meets both financial and rating thresholds simultaneously.
The amendment also replaces the usage-based commitment fee for the Revolving Credit Facility with a facility fee. Before obtaining an investment-grade rating, this fee ranges from 0.15% to 0.30% depending on leverage. After obtaining an investment-grade rating, the fee range adjusts to 0.125% to 0.30% based on credit rating. The company noted that ratings from S&P, Moody's, or Fitch may be used for the pricing grid calculations.
Pierre Revol, Chief Financial Officer, Treasurer, and Secretary of FrontView REIT, signed the report on behalf of the registrant. The complete terms of Amendment No. 5 are set to accompany the company's Form 10-Q filing for the quarter ended September 30, 2026. Certain agents and lenders involved in the credit agreement have also provided financial advisory and investment banking services to FrontView REIT and its affiliates for customary fees.