STORE Capital Announces Closing of $525 Million Securitization (Form 8-K)

STORE Capital Announces Closing of $525 Million Securitization

SCOTTSDALE, Ariz. - September 21, 2026 - STORE Capital LLC ("STORE", "STORE Capital" or the "Company"), an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate, today announced that it completed the issuance of $525.0 million of long-term fixed-rate notes designated as STORE Master Funding Net-Lease Mortgage Notes, Series 2026-2 (the "Notes"). This is the sixteenth note issuance under STORE's Master Funding debt program, its proprietary structured debt financing vehicle.

The Notes were issued in four classes in private placements to premier institutional buyers. Notes aggregating $450.0 million were rated AAA by S&P Global Ratings ("S&P") and include $317.0 million of 5.67-year Class A-1 notes issued at an interest rate of 5.79% and $133.0 million of 3.14-year Class A-1-P notes issued at an interest rate of 5.56%. Notes aggregating $75.0 million were rated AA by S&P and include $53.0 million of 5.67-year Class A-2 notes issued at an interest rate of 5.89% and $22.0 million of 3.14-year Class A-2-P notes issued at an interest rate of 5.71%. The weighted average all-in interest rate of the Notes is 5.74% with a weighted average all-in credit spread of 97 basis points. The weighted average life of the Notes is 4.92 years. The net proceeds of the transaction were used to redeem approximately $280 million of previously issued Master Funding notes set to mature in the fourth quarter of 2026 that were prepayable without penalty, and to fund growth.

"I am pleased to announce the successful closing of STORE's sixteenth Master Funding transaction. We are so grateful for the unwavering confidence investors have demonstrated in STORE's Master Funding program over the years and are excited to welcome our new investors who participated in this issuance. Despite a volatile market, we saw strong investor demand, enabling credit spread tightening of 14 and 13 basis points compared to our May 2026-1 transaction for the AAA and AA bonds, respectively. We are immensely proud of this issuance which represented the lowest credit spread in the history of our Master Funding program and the first transaction with an all-in double digit credit spread," said Mary Fedewa, STORE Capital's President and Chief Executive Officer. "In addition, with the capital we raised through this issuance, we paid off existing notes coming due in the fourth quarter of 2026, further improving the overall maturity profile of our debt. Finally, this issuance demonstrated the continued commitment and support of all those involved in the program including the STORE team, its stakeholders, and our growing investor base."

The Notes are not registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or outside the United States absent registration or an applicable exemption from the registration requirements.