Page 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549
FORM 8-K
CURRENT REPORTPursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 6, 2018
AMERICOLD REALTY TRUST(Exact name of registrant as specified in its charter)
Maryland 001-34723 93-0295215
(State or other jurisdictionof incorporation)
(CommissionFile Number)
(IRS EmployerIdentification No.)
10 Glenlake Parkway, South Tower, Suite 600 Atlanta, Georgia 30328
(Address of principal executive offices) (Zip Code)
(678) 441-1400(Registrant’s telephone number, including area code)
Not Applicable(Former name or former address, if changed since last report)
ChecktheappropriateboxbelowiftheForm8-Kfilingisintendedtosimultaneouslysatisfythefilingobligationoftheregistrantunderanyofthefollowingprovisions(seeGeneralInstructionA.2.below):
☐ WrittencommunicationspursuanttoRule425undertheSecuritiesAct(17CFR230.425)
☐ SolicitingmaterialpursuanttoRule14a-12undertheExchangeAct(17CFR240.14a-12)
☐ Pre-commencementcommunicationspursuanttoRule14d-2(b)undertheExchangeAct(17CFR240.14d-2(b))
☐ Pre-commencementcommunicationspursuanttoRule13e-4(c)undertheExchangeAct(17CFR240.13e-4(c))
IndicatebycheckmarkwhethertheregistrantisanemerginggrowthcompanyasdefinedinasdefinedinRule405oftheSecuritiesActof1933(§230.405ofthischapter)orRule12b-2oftheSecuritiesExchangeActof1934(§240.12b-2ofthischapter).
Emerginggrowthcompany☐
Ifanemerginggrowthcompany,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandardsprovidedpursuanttoSection13(a)oftheExchangeAct.☐
Page 2
Item 1.01 — Entry into a Material Definitive Agreement.
OnFebruary6,2018,AmericoldRealtyTrust(the“Company”)enteredintotheConsentandFirstAmendmenttoCreditAgreement,datedasofFebruary6,2018,amongAmericoldRealtyOperatingPartnership,L.P.,theCompany,theGuarantors,Lenders,LetterofCreditIssuersandSwingLineLender(eachasdefinedintheCreditAgreement(asdefinedbelow))partytheretoandBankofAmerica,N.A.,asAdministrativeAgent(the“FirstAmendment”).TheFirstAmendmentamendstheCreditAgreement,datedasofJanuary23,2018,byandamongAmericoldRealtyOperatingPartnership,L.P.,theCompany,theSeveralLendersandLetterofCreditIssuersfromTimetoTimePartiesTheretoandBankofAmerica,N.A.,asAdministrativeAgent(the“CreditAgreement”).
PursuanttotheFirstAmendment,theCompany’slendergroupincreaseditsaggregaterevolvingcreditcommitmentsontheCompany’sexisting$400millionseniorrevolvingcreditfacilityby$50millionto$450million.Concurrently,theCompanyutilizedcashonhandtorepay$50milliononitsseniortermloanAfacility.Asaresultofthesemodifications,theCompany’stotalaggregatecommitmentsunderitscreditfacilitiesremainunchangedat$925million.
Page 3
Item 9.01 — Financial Statements and Exhibits.
(d) ExhibitsExhibit
No. Description
10.1
ConsentandFirstAmendmenttoCreditAgreement,datedasofFebruary6,2018,amongAmericoldRealtyOperatingPartnership,L.P.,theCompany,theGuarantors,Lenders,LetterofCreditIssuersandSwingLineLender(eachasdefinedtherein)partytheretoandBankofAmerica,N.A.,asAdministrativeAgent
99.1 PressReleasedatedFebruary6,2018
Page 4
SIGNATURES
PursuanttotherequirementsoftheSecuritiesExchangeActof1934,theregistranthasdulycausedthisreporttobesignedonitsbehalfbytheundersignedhereuntodulyauthorized.
Date:February6,2018
AMERICOLD REALTY TRUST
By: /s/MarcSmernoffName: MarcSmernoffTitle: ChiefFinancialOfficerandExecutiveVicePresident
Page 5
Exhibit 10.1
CONSENT AND FIRST AMENDMENT TO CREDIT AGREEMENT
CONSENTANDFIRSTAMENDMENTTOCREDITAGREEMENT,datedasofFebruary6,2018(this“Agreement”),amongAmericoldRealtyOperatingPartnership,L.P.,aDelawarelimitedpartnership(the“Borrower”),AmericoldRealtyTrust,aMarylandrealestateinvestmenttrust(the“Company”),theGuarantors,Lenders,LetterofCreditIssuersandSwingLineLender(eachasdefinedtheCreditAgreementdescribedbelow)partyheretoandBankofAmerica,N.A.,asadministrativeagent(insuchcapacity,the“AdministrativeAgent”).
WHEREAS,theBorrower,theCompany,theLenders,theLetterofCreditIssuers,theSwingLineLenderandtheAdministrativeAgentarepartytothatcertainCreditAgreement,datedasofJanuary23,2018(asamended,restated,extended,supplementedorotherwisemodifiedinwritingfromtimetotime,the“CreditAgreement”;capitalizedtermsusedhereinandnototherwisedefinedhereinshallhavethemeaningsassignedtosuchtermsintheCreditAgreement),andtheBorrower,theGuarantorsandtheAdministrativeAgentarepartytotheGuaranteeandCollateralAgreement;and
WHEREAS,theBorrowernotifiedtheAdministrativeAgentthatitintendstoprepaytheTermLoanintheamountof$50,000,000(the“Prepayment”)withthePrepaymenttobeappliedtotheTermLoansoftheLendersintheamountssetforthonAnnexIheretoratherthaninaccordancewiththeirrespectiveApplicablePercentagesinrespectoftheTermLoanFacilityasrequiredunderSection5.1(a)oftheCreditAgreement;and
WHEREAS,theBorrowerhasrequestedthat,concurrentlywiththePrepayment,theLendersincreasetheTotalRevolvingCreditCommitmentfrom$400,000,000to$450,000,000(the“RevolverIncrease”).
NOWTHEREFORE,forgoodandvaluableconsideration,thereceiptandsufficiencyofwhichisherebyacknowledged,thepartiesheretoagreeasfollows:
SECTION 1. Consent .SubjecttoallofthetermsandconditionssetforthinthisAgreement,eachoftheLendersherebyconsents,asoftheEffectiveDate(ashereinafterdefined),to(a)theapplicationofthePrepaymenttotheTermLoansoftheLendersintheamountssetforthonAnnexIheretoand(b)increasingitsRevolvingCreditCommitmenttotheamountsetforthoppositesuchLender’snameonAnnexIIheretounderthecaption“RevolvingCreditCommitment.”
SECTION 2. Amendment to Credit Agreement .SubjecttoallofthetermsandconditionssetforthinthisAgreement,asoftheEffectiveDate,theCreditAgreementisherebyamendedbyreplacingSchedule1.1AtotheCreditAgreementinitsentiretywiththeSchedule1.1AattachedheretoasAnnexII.
SECTION 3. Conditions to Effectiveness .ThisAgreementshallbedeemedeffectiveasofthefirstdate(suchdatebeingreferredtohereinasthe“EffectiveDate”)onwhichallofthefollowingconditionsprecedenthavebeensatisfiedorwaivedinwriting:
3.1 theAdministrativeAgentshallhavereceivedcounterpartsofthisAgreementdulyexecutedbyeachoftheLoanParties,theAdministrativeAgentandeachoftheLenders;
Page 6
3.2 theBorrowershallhavemadethePrepayment;
3.3 noDefaultorEventofDefaulthasoccurredandiscontinuingontheEffectiveDateorwould(givingeffecttothisAgreement)resultfromtheRevolverIncrease;
3.4 beforeandaftergivingeffecttotheRevolverIncrease(givingeffecttothisAgreement),eachoftherepresentationsandwarrantiesmadebyoronbehalfofanyGroupMemberinorpursuanttotheLoanDocumentsshallbetrueandcorrectinallmaterialrespects(or,ifqualifiedbymaterialityorMaterialAdverseEffect,inallrespects)ontheEffectiveDate(exceptwheresuchrepresentationsandwarrantiesexpresslyrelatetoanearlierdate,inwhichcasesuchrepresentationsandwarrantiesshallhavebeentrueandcorrectinallmaterialrespects(or,ifqualifiedbymaterialityorMaterialAdverseEffect,inallrespects)asofsuchearlierdate);and
3.5 theBorrowershallhavedeliveredtotheAdministrativeAgentacertificateoftheBorrowerdatedasoftheEffectiveDate,signedbyaResponsibleOfficeroftheBorrowercertifyingandattachingtheresolutionsadoptedbytheBorrowerapprovingorconsentingtotheRevolverIncreaseandcertifyingthattheconditionsinclauses3.3and3.4abovehavebeensatisfied.
SECTION 4. Representations and Warranties .EachoftheLoanPartiesreaffirmsandrestatestherepresentationsandwarrantiesmadebyitinorpursuanttotheLoanDocuments,ineachcase,aftergivingeffecttotheamendmentstotheCreditAgreementcontemplatedbythisAgreement,andallsuchrepresentationsandwarrantiesaretrueandcorrectinallmaterialrespectsonandasofthedateofthisAgreementasifmadeonandasofsuchdate(exceptwheresuchrepresentationsandwarrantiesrelatetoanearlierdate,inwhichcasesuchrepresentationsandwarrantiesshallhavebeentrueandcorrectinallmaterialrespects(or,ifqualifiedbymaterialityorMaterialAdverseEffect,inallrespects)asofsuchearlierdate).EachoftheLoanPartiesadditionallyrepresentsandwarrants(whichrepresentationsandwarrantiesshallsurvivetheexecutionanddeliveryhereof)totheAdministrativeAgent,theSwingLineLender,theLetterofCreditIssuersandtheLendersthat:
(a)ithasthecorporate,limitedliabilityorlimitedpartnership,asapplicable,powerandauthority,andthelegalright,toenterintoandperformthisAgreementandthetransactionscontemplatedherebyandhastakenallnecessaryorganizationalactiontoauthorizetheexecution,deliveryandperformanceofthisAgreementandthetransactionscontemplatedhereby;
(b)noconsentorauthorizationof,filingwith,noticetoorotheractbyorinrespectof,anyGovernmentalAuthorityoranyotherPersonisrequiredinconnectionwiththeexecution,delivery,performance,validityorenforceabilityofthisAgreementandthetransactionscontemplatedhereby,exceptconsents,authorizations,filingsandnoticesthathavebeenobtainedormadeandareinfullforceandeffect;
2
Page 7
(c)thisAgreementhasbeendulyexecutedanddeliveredonbehalfofeachLoanParty,andisalegal,validandbindingobligationofeachLoanParty,enforceableagainsteachLoanPartyinaccordancewithitsterms,exceptasenforceabilitymaybelimitedbyapplicablebankruptcy,insolvency,fraudulentconveyance,reorganization,moratoriumorsimilarlawsrelatingtooraffectingtheenforcementofcreditors’rightsgenerallyandbygeneralequitableprinciples(whetherenforcementissoughtbyproceedingsinequityoratlaw);
(d)noDefaultorEventofDefaulthasoccurredandiscontinuing;and
(e)theexecution,deliveryandperformanceofthisAgreementandtheotherLoanDocuments,theborrowingshereunderandtheuseoftheproceedsthereofwillnotviolateanyRequirementofLaworanyMaterialContractoranyGoverningDocumentofanyLoanPartyandwillnotresultin,orrequire,thecreationorimpositionofanyLienonanyoftheirrespectivepropertiesorrevenuespursuanttoanysuchMaterialContract(otherthantheLienscreatedbytheCollateralDocuments).
SECTION 5. Affirmation of Guarantors .EachGuarantorherebyapprovesandconsentstothisAgreementandthetransactionscontemplatedbythisAgreementandagreesandaffirmsthatitsguaranteeoftheObligationscontinuestobeinfullforceandeffectandisherebyratifiedandconfirmedinallrespectsandshallapplytotheCreditAgreementandalloftheotherLoanDocuments,assuchareamended,restated,supplementedorotherwisemodifiedfromtimetotimeinaccordancewiththeirterms.
SECTION 6. Costs and Expenses .TheBorroweragreestoreimbursetheAdministrativeAgentforitsreasonableandout-of-pocketexpensesincurredinconnectionwiththisAmendmenttotheextentrequiredunderSection12.5oftheCreditAgreement.
SECTION 7. Ratification .
(a)TheCreditAgreement,asamendedbythisAgreement,andtheotherLoanDocumentsremaininfullforceandeffectandareherebyratifiedandaffirmedbytheLoanParties.EachoftheLoanPartiesherebyreaffirmsandadmitsthevalidityandenforceabilityoftheCreditAgreement,asamendedbythisAgreement,andtheotherLoanDocuments.
(b)ThisAgreementshallbelimitedpreciselyaswrittenand,exceptasexpresslyprovidedherein,shallnotbedeemed(i)tobeaconsentgrantedpursuantto,orawaiver,modificationorforbearanceof,anytermorconditionoftheCreditAgreement,anyotherLoanDocumentoranyoftheinstrumentsoragreementsreferredtoinanythereoforawaiverofanyDefaultorEventofDefault,whetherornotknowntotheAdministrativeAgent,theSwingLineLender,anyoftheLetterofCreditIssuersoranyoftheLenders,or(ii)toprejudiceanyrightorremedywhichtheAdministrativeAgent,theSwingLineLender,anyoftheLetterofCreditIssuersoranyoftheLendersmaynowhaveorhaveinthefutureagainstanyPersonunderorinconnectionwiththeCreditAgreement,anyoftheinstrumentsoragreementsreferredtothereinoranyofthetransactionscontemplatedthereby.
3
Page 8
SECTION 8. Modifications .NeitherthisAgreement,noranyprovisionhereof,maybewaived,amendedormodifiedexceptpursuanttoanagreementoragreementsinwritingenteredintobythepartieshereto.
SECTION 9. References .TheLoanPartiesacknowledgeandagreethatthisAgreementconstitutesaLoanDocument.EachreferenceintheCreditAgreementto“thisAgreement,”“hereunder,”“hereof,”“herein,”orwordsoflikeimport,andeachreferenceineachotherLoanDocument(andtheotherdocumentsandinstrumentsdeliveredpursuanttoorinconnectiontherewith)tothe“CreditAgreement”,“thereunder”,“thereof”orwordsoflikeimport,shallmeanandbeareferencetotheCreditAgreementasmodifiedherebyandaseachmayinthefuturebeamended,restated,supplementedormodifiedfromtimetotime.
SECTION 10. Counterparts .ThisAgreementmaybeexecutedbyoneormoreofthepartiestothisAgreementonanynumberofseparatecounterparts,andallofsaidcounterpartstakentogethershallbedeemedtoconstituteoneandthesameinstrument.DeliveryofanexecutedcounterpartofasignaturepageofthisAgreementbyemailorfacsimiletransmissionshallbeeffectiveasdeliveryofamanuallyexecutedcounterparthereof.
SECTION 11. Successors and Assigns .TheprovisionsofthisAgreementshallbebindinguponandinuretothebenefitofthepartiesheretoandtheirrespectivesuccessorsandassigns.
SECTION 12. Severability .IfanyprovisionofthisAgreementisprohibited,illegal,invalidorunenforceableinanyjurisdiction,(a)suchprovisionshall,astosuchjurisdiction,beineffectivetotheextentofsuchprohibitionorunenforceabilitywithoutinvalidatingtheremainingprovisionshereof,andanysuchprohibitionorunenforceabilityinanyjurisdictionshallnotinvalidateorrenderunenforceablesuchprovisioninanyotherjurisdictionand(b)thepartiesshallendeavoringoodfaithnegotiationstoreplacetheprohibited,illegal,invalidorunenforceableprovisionswithvalidprovisionstheeconomiceffectofwhichcomesascloseaspossibletothatoftheprohibited,illegal,invalidorunenforceableprovisions.
SECTION 13. Governing Law .THISAGREEMENT,THERIGHTSANDOBLIGATIONSOFTHEPARTIESUNDERTHISAGREEMENT,ANDANYCLAIM,CONTROVERSY,DISPUTEORCAUSEOFACTION(WHETHERINCONTRACTORTORTOROTHERWISE)BASEDUPON,ARISINGOUTOFORRELATINGTOTHISAGREEMENTANDTHETRANSACTIONSCONTEMPLATEDHEREBY,SHALLBEGOVERNEDBY,ANDCONSTRUEDANDINTERPRETEDINACCORDANCEWITH,THELAWOFTHESTATEOFNEWYORK.(EXCLUDINGTHELAWSAPPLICABLETOCONFLICTSORCHOICEOFLAWOTHERTHANSECTIONS5-1401AND5-1402OFTHEGENERALOBLIGATIONSLAWOFTHESTATEOFNEWYORK).
SECTION 14. Headings .SectionheadingsinthisAgreementareincludedforconvenienceofreferenceonlyandshallnotaffecttheinterpretationofthisAgreementoranyotherLoanDocument.
[Theremainderofthispageleftblankintentionally]
4
Page 9
INWITNESSWHEREOF,theLoanParties,theLenders,theLetterofCreditIssuers,theSwingLineLenderandtheAdministrativeAgenthavecausedthisAgreementtobedulyexecutedbytheirrespectiveauthorizedofficersasofthedayandyearfirstabovewritten.
AMERICOLD REALTY OPERATING PARTNERSHIP,L.P.
By: /s/MarcJ.SmernoffName: MarcJ.SmernoffTitle: ChiefFinancialOfficer
AMERICOLD REALTY TRUST
By: /s/MarcJ.SmernoffName: MarcJ.SmernoffTitle: ChiefFinancialOfficer
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 10
AMERICOLD ACQUISITION, LLCAMERICOLD LOGISTICS, LLCAMERICOLD NEBRASKA LEASING LLCAMERICOLD PROPCO PHOENIX VAN BUREN LLCAMERICOLD REAL ESTATE, L.P.AMERICOLD REALTY, INC.AMERICOLD SAN ANTONIO PROPCO, LLCAMERICOLD TRANSPORTATION SERVICES, LLCART AL HOLDING LLCART FIRST MEZZANINE BORROWER GP LLCART FIRST MEZZANINE BORROWER OPCO 2006-2 L.P.ART FIRST MEZZANINE BORROWER OPCO GP 2006-2 LLCART FIRST MEZZANINE BORROWER PROPCO 2006-2 L.P.ART FIRST MEZZANINE BORROWER PROPCO GP 2006-2 LLCART FIRST MEZZANINE BORROWER, L.P.ART ICECAP HOLDINGS LLCART MANAGER L.L.C.ART MORTGAGE BORROWER GP LLCART MORTGAGE BORROWER, L.P.ART MORTGAGE BORROWER OPCO 2006-1A L.P.ART MORTGAGE BORROWER OPCO 2006-1B L.P.ART MORTGAGE BORROWER OPCO 2006-1C L.P.ART MORTGAGE BORROWER OPCO 2006-2 L.P.ART MORTGAGE BORROWER OPCO GP 2006-1A LLCART MORTGAGE BORROWER OPCO GP 2006-1B LLCART MORTGAGE BORROWER OPCO GP 2006-1C LLCART MORTGAGE BORROWER OPCO GP 2006-2 LLCART MORTGAGE BORROWER PROPCO 2006-1A L.P.ART MORTGAGE BORROWER PROPCO 2006-1B L.P.ART MORTGAGE BORROWER PROPCO 2006-1C L.P.ART MORTGAGE BORROWER PROPCO 2006-2 L.P.ART MORTGAGE BORROWER PROPCO GP 2006-1A LLCART MORTGAGE BORROWER PROPCO GP 2006-1B LLCART MORTGAGE BORROWER PROPCO GP 2006-1C LLCART MORTGAGE BORROWER PROPCO GP 2006-2 LLCART QUARRY TRS LLCART SECOND MEZZANINE BORROWER GP LLCART SECOND MEZZANINE BORROWER, L.P.ATLAS COLD STORAGE LOGISTICS LLCATLAS LOGISTICS GROUP RETAIL SERVICES (ATLANTA) LLCATLAS LOGISTICS GROUP RETAIL SERVICES (DENVER) LLCATLAS LOGISTICS GROUP RETAIL SERVICES (PHOENIX) LLCATLAS LOGISTICS GROUP RETAIL SERVICES (ROANOKE) LLCKC UNDERGROUND, L.L.C.VCD PLEDGE HOLDINGS, LLCVERSACOLD ATLAS LOGISTICS SERVICES USA LLCVERSACOLD LOGISTICS, LLCVERSACOLD MIDWEST LLCVERSACOLD NORTHEAST LOGISTICS, LLCVERSACOLD NORTHEAST, INC.VERSACOLD TEXAS, L.P.VERSACOLD USA, INC.
By: /s/MarcJ.SmernoffName: MarcJ.SmernoffTitle: ChiefFinancialOfficer
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 11
BANK OF AMERICA, N.A., asAdministrativeAgent
By: /s/AamirSaleemName: AamirSaleemTitle: VicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 12
BANK OF AMERICA, N.A. , asaLender,aLetterofCreditIssuerandtheSwingLineLender
By: /s/JonathanSalzingerName: JonathanSalzingerTitle: VicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 13
JPMORGAN CHASE BANK N.A., asaLenderandaLetterofCreditIssuer
By: /s/JaimeGitlerName: JaimeGitlerTitle: VicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 14
COOPERATIEVE RABOBANK U.A.,NEW YORK BRANCH, asaLender
By: /s/OliviaLeongName: OliviaLeongTitle: ExecutiveDirector
By: /s/BramStevensName: BramStevensTitle: ManagingDirector
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 15
ROYAL BANK OF CANADA, asaLender
By: /s/BrianGrossName: BrianGrossTitle: AuthorizedSignatory
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 16
COMPASS BANK, AN ALABAMA BANKINGCORPORATION, asaLender
By: /s/DonByerlyName: DonByerlyTitle: SeniorVicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 17
CITIZENS BANK, NATIONAL ASSOCIATION, asaLender
By: /s/MichelleM.DawsonName: MichelleM.DawsonTitle: VicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 18
REGIONS BANK, asaLender
By: /s/KyleD.UptonName: KyleD.UptonTitle: VicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 19
SUNTRUST BANK, asaLender
By: /s/FrancineGlandtName: FrancineGlandtTitle: SeniorVicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 20
U.S. BANK NATIONAL ASSOCIATION, asaLender
By: /s/LoriY.JensenName: LoriY.JensenTitle: SeniorVicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 21
BRANCH BANK AND TRUST COMPANY, asaLender
By: /s/BradBowenName: BradBowenTitle: SeniorVicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 22
GOLDMAN SACHS LENDING PARTNERS LLC, asaLender
By: /s/AnnieCarrName: AnnieCarrTitle: AuthorizedSignatory
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 23
ZB, N.A. dba NATIONAL BANK OF ARIZONA, asaLender
By: /s/EricDamkoName: EricDamkoTitle: VicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 24
RAYMOND JAMES BANK FSB, asaLender
By: /s/MattSteinName: MattSteinTitle: SeniorVicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
Page 25
ANNEXITOFIRSTAMENDMENT
Allocation of the PrepaymentTerm Lender Prepayment AmountBankofAmerica,N.A. $ 8,000,000.00JPMorganChaseBank,N.A. $ 5,000,000.00CooperatieveRabobankU.A.,NewYorkBranch $ 5,000,000.00RoyalBankofCanada $ 5,000,000.00CitizensBank,NationalAssociation $ 4,500,000.00RegionsBank $ 4,500,000.00SunTrustBank $ 4,500,000.00U.S.BankNationalAssociation $ 3,000,000.00BranchBankandTrustCompany $ 2,000,000.00GoldmanSachsLendingPartnersLLC $ 2,000,000.00ZB,N.A.dbaNationalBankofArizona $ 2,000,000.00CompassBank,anAlabamaBankingCorporation $ 2,250,000.00RaymondJamesBankFSB $ 2,250,000.00
Total $ 50,000,000.00
AnnexI
Page 26
ANNEXIITOFIRSTAMENDMENT
Schedule 1.1ACommitments, Applicable Percentages and Sublimits
RevolvingCreditCommitments
Lender Commitment
Applicable Percentage/RevolvingCredit Commitment
Percentage Letter of Credit
Sublimit BankofAmerica,N.A. $ 53,500,000.00 11.888888889% $40,000,000.00JPMorganChaseBank,N.A. $ 48,500,000.00 10.777777778% $40,000,000.00CooperatieveRabobankU.A.,NewYorkBranch $ 48,500,000.00 10.777777778% $ 0.00RoyalBankofCanada $ 48,500,000.00 10.777777778% $ 0.00CitizensBank,NationalAssociation $ 39,000,000.00 8.666666667% $ 0.00RegionsBank $ 39,000,000.00 8.666666667% $ 0.00SunTrustBank $ 39,000,000.00 8.666666667% $ 0.00U.S.BankNationalAssociation $ 29,000,000.00 6.444444444% $ 0.00BranchBankandTrustCompany $ 22,000,000.00 4.888888889% $ 0.00GoldmanSachsLendingPartnersLLC $ 22,000,000.00 4.888888889% $ 0.00ZB,N.A.dbaNationalBankofArizona $ 22,000,000.00 4.888888889% $ 0.00CompassBank,anAlabamaBankingCorporation $ 19,500,000.00 4.333333333% $ 0.00RaymondJamesBankFSB $ 19,500,000.00 4.333333333% $ 0.00
Total $450,000,000.00 100.000000000% $80,000,000.00
AnnexII
Page 27
TermCommitmentsLender Commitment Applicable PercentageBankofAmerica,N.A. $ 56,500,000.00 11.894736842%JPMorganChaseBank,N.A. $ 51,500,000.00 10.842105263%CooperatieveRabobankU.A.,NewYorkBranch $ 51,500,000.00 10.842105263%RoyalBankofCanada $ 51,500,000.00 10.842105263%CitizensBank,NationalAssociation $ 41,000,000.00 8.631578947%RegionsBank $ 41,000,000.00 8.631578947%SunTrustBank $ 41,000,000.00 8.631578947%U.S.BankNationalAssociation $ 31,000,000.00 6.526315789%BranchBankandTrustCompany $ 23,000,000.00 4.842105263%GoldmanSachsLendingPartnersLLC $ 23,000,000.00 4.842105263%ZB,N.A.dbaNationalBankofArizona $ 23,000,000.00 4.842105263%CompassBank,anAlabamaBankingCorporation $ 20,500,000.00 4.315789474%RaymondJamesBankFSB $ 20,500,000.00 4.315789474%
Total $475,000,000.00 100.000000000%
AnnexII
Page 28
Exhibit 99.1
Americold Realty Trust Announces Partial Repayment of Amounts Outstanding on Term Loanand Expansion of Revolver Capacity
ATLANTA,February6,2018—AmericoldRealtyTrust(NYSE:COLD)(the“Company”or“Americold”)announcedtodaythatithasutilizedcashonhandtorepay$50milliononitsoutstandingseniortermloanAfacilitythatwasoriginatedatthetimeoftheCompany’sinitialpublicoffering(“IPO”).Subsequenttotherepayment,thetotaloutstandingbalanceundertheCompany’sseniortermloanAfacilityis$475million.
Concurrently,theCompany’slendergroupincreaseditsaggregaterevolvingcreditcommitmentsontheCompany’sexisting$400millionseniorrevolvingcreditfacilityby$50millionto$450million.Asaresultofthesemodifications,theCompany’stotalaggregatecommitmentsunderitsseniorcreditfacilityremainunchangedat$925million.
About Americold Realty Trust
Americoldistheworld’slargestowneroftemperature-controlledwarehouses.BasedinAtlanta,Georgia,Americoldownsandoperates160temperature-controlledwarehouses,withapproximately1billioncubicfeetofstorage,intheUnitedStates,Canada,Australia,NewZealandandArgentina.Americold’sfacilitiesareanintegralcomponentofthesupplychainconnectingfoodproducers,processors,distributorsandretailerstoconsumers.Americoldservesover2,600customersandemploysapproximately11,000associatesworldwide.
Contacts:
InvestorRelationsAmericoldRealtyTrust10GlenlakeParkwaySuite600,SouthTowerAtlanta,GA30328Telephone:678-459-1959Email:[email protected]