americold realty trustd18rn0p25nwr6d.cloudfront.net/cik-0001455863/8e6ad...realty operating...
TRANSCRIPT
![Page 1: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/1.jpg)
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: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/2.jpg)
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: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/3.jpg)
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: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/4.jpg)
SIGNATURES
PursuanttotherequirementsoftheSecuritiesExchangeActof1934,theregistranthasdulycausedthisreporttobesignedonitsbehalfbytheundersignedhereuntodulyauthorized.
Date:February6,2018
AMERICOLD REALTY TRUST
By: /s/MarcSmernoffName: MarcSmernoffTitle: ChiefFinancialOfficerandExecutiveVicePresident
![Page 5: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/5.jpg)
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: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/6.jpg)
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: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/7.jpg)
(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: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/8.jpg)
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: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/9.jpg)
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 REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/10.jpg)
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: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/11.jpg)
BANK OF AMERICA, N.A., asAdministrativeAgent
By: /s/AamirSaleemName: AamirSaleemTitle: VicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 12: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/12.jpg)
BANK OF AMERICA, N.A. , asaLender,aLetterofCreditIssuerandtheSwingLineLender
By: /s/JonathanSalzingerName: JonathanSalzingerTitle: VicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 13: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/13.jpg)
JPMORGAN CHASE BANK N.A., asaLenderandaLetterofCreditIssuer
By: /s/JaimeGitlerName: JaimeGitlerTitle: VicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 14: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/14.jpg)
COOPERATIEVE RABOBANK U.A.,NEW YORK BRANCH, asaLender
By: /s/OliviaLeongName: OliviaLeongTitle: ExecutiveDirector
By: /s/BramStevensName: BramStevensTitle: ManagingDirector
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 15: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/15.jpg)
ROYAL BANK OF CANADA, asaLender
By: /s/BrianGrossName: BrianGrossTitle: AuthorizedSignatory
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 16: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/16.jpg)
COMPASS BANK, AN ALABAMA BANKINGCORPORATION, asaLender
By: /s/DonByerlyName: DonByerlyTitle: SeniorVicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 17: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/17.jpg)
CITIZENS BANK, NATIONAL ASSOCIATION, asaLender
By: /s/MichelleM.DawsonName: MichelleM.DawsonTitle: VicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 18: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/18.jpg)
REGIONS BANK, asaLender
By: /s/KyleD.UptonName: KyleD.UptonTitle: VicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 19: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/19.jpg)
SUNTRUST BANK, asaLender
By: /s/FrancineGlandtName: FrancineGlandtTitle: SeniorVicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 20: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/20.jpg)
U.S. BANK NATIONAL ASSOCIATION, asaLender
By: /s/LoriY.JensenName: LoriY.JensenTitle: SeniorVicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 21: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/21.jpg)
BRANCH BANK AND TRUST COMPANY, asaLender
By: /s/BradBowenName: BradBowenTitle: SeniorVicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 22: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/22.jpg)
GOLDMAN SACHS LENDING PARTNERS LLC, asaLender
By: /s/AnnieCarrName: AnnieCarrTitle: AuthorizedSignatory
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 23: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/23.jpg)
ZB, N.A. dba NATIONAL BANK OF ARIZONA, asaLender
By: /s/EricDamkoName: EricDamkoTitle: VicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 24: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/24.jpg)
RAYMOND JAMES BANK FSB, asaLender
By: /s/MattSteinName: MattSteinTitle: SeniorVicePresident
[SignaturePagetoFirstAmendmenttoAmericoldCreditAgreement]
![Page 25: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/25.jpg)
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: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/26.jpg)
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: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/27.jpg)
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: AMERICOLD REALTY TRUSTd18rn0p25nwr6d.cloudfront.net/CIK-0001455863/8e6ad...Realty Operating Partnership, L.P., a Delaware limited partnership (the “ Borrower ”), Americold Realty](https://reader034.vdocument.in/reader034/viewer/2022050603/5faab8e102c45f212e43098a/html5/thumbnails/28.jpg)
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]