Phillips Edison Grocery Center REIT II, Inc. Enters into $370 Million Term Loan Facility

CINCINNATI--(BUSINESS WIRE)-- Phillips Edison Grocery Center REIT II, Inc. (the “Company”) today announced that on June 3, 2016, the Company entered into a first amendment (the “First Amendment”) to its existing credit agreement originally entered into on July 2, 2014 (the “Credit Agreement”). KeyBanc Capital Markets, JP Morgan Chase Bank, N.A. and Wells Fargo Securities LLC were the joint lead arrangers and joint bookrunners. The First Amendment provides for the addition of a term loan facility and two term loan tranches. The first tranche of term loans has a principal amount of $185 million and matures in July 2019, subject to the Company’s option to exercise one twelve-month extension and one additional extension to five years from the date of the First Amendment. The second tranche of term loans has a principal amount of $185 million and matures in June 2020, subject to the Company’s option to exercise one twelve-month extension. A maturity date extension for the first or second tranche of term loans requires the payment of an extension fee of 0.15% of the then outstanding principal amount of the corresponding tranche. The Company drew down $121.5 million under each tranche on the closing date of the First Amendment, and the remainder of the term loans may be drawn for up to 180 days after the closing date of the First Amendment.

“We appreciate the relationships we have formed with our lending partners and are thankful for their continued support,” said Devin Murphy, Chief Financial Officer.

About Phillips Edison Grocery Center REIT II, Inc.

Phillips Edison Grocery Center REIT II, Inc. is a public non-traded real estate investment trust that seeks to acquire and manage well-occupied grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the United States. As of June 9, 2016, the Company owned and managed an institutional quality retail portfolio consisting of 69 grocery-anchored shopping centers totaling 8.5 million square feet of gross leasable area. For more information on the Company, please visit the website at www.grocerycenterREIT2.com.

This press release contains forward-looking statements about the Company’s business, including, in particular, statements about its access to credit, pipeline, plans, strategies and objectives. You can generally identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue” or other similar words. You should not rely on these forward-looking statements because the matters they describe are subject to the factors detailed under Risk Factors in the Company’s most recent Form 10-K and subsequent Forms 10-Q on file with the Securities and Exchange Commission as well as other known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company’s control. The Company’s actual results, performance and achievements may be materially different from that expressed or implied by these forward-looking statements.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160609006014/en/

Phillips Edison & Company
Emily Kendall, 513-746-2595
[email protected]
or
ICR
Angela Bonnici, 646-277-1276
[email protected]

Source: Phillips Edison Grocery Center REIT II, Inc.

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