Business Context and Reporting Period
This Form 8-K was filed by Strategic Storage Trust II, Inc. on January 12, 2016. The filing serves as a Regulation FD disclosure regarding a material amendment to the company's credit facility.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, or margin data. The primary financial metric disclosed relates to debt capacity:
- Credit Facility Lender: KeyBank, National Association.
- Current Maximum Borrowing Capacity: $105 million (revolving).
- Maximum Potential Facility Size: $500 million (subject to increase).
Material Changes
The registrant amended its existing credit facility with KeyBank. The amendment increased the maximum borrowing capacity to $105 million and established an option to expand the facility up to a total size of $500 million.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the disclosure of the credit facility amendment. The press release detailing the amendment is attached as Exhibit 99.1 but is deemed furnished rather than filed.
Investor Verification Checklist
- Verify the specific terms and conditions of the credit facility amendment in the attached press release (Exhibit 99.1).
- Confirm the requirements and triggers necessary to increase the facility from $105 million to the $500 million maximum.
- Review the company's current outstanding debt levels to assess the utilization of the new $105 million capacity.