Corporate Property Associates 18 Global (CPYA) 8-K Entry into a Material Definitive Agreement

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): July 16, 2020
CORPORATE PROPERTY ASSOCIATES 18 – GLOBAL INCORPORATED
(Exact Name of Registrant as Specified in its Charter)
Maryland
(State or Other Jurisdiction of Incorporation)
000-54970	90-0885534
(Commission File Number)	(IRS Employer Identification No.)
50 Rockefeller Plaza, New York, NY	10020
(Address of Principal Executive Offices)	(Zip Code)
Registrant’s telephone number, including area code: (212) 492-1100
(Former Name or Former Address, if Changed Since Last Report)

___________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 1.01 — Entry into a Material Definitive Agreement.

On July 16, 2020, Corporate Property Associates 18 – Global Incorporated, as guarantor, and its operating partnership, CPA:18 Limited Partnership, as borrower, entered into a Loan Agreement, a Promissory Note and a Payment Guaranty (collectively, the “Loan Documents”) with the parent of its advisor, W. P. Carey Inc. (“WPC”) as lender. The Loan Documents provide CPA:18 Limited Partnership with a $25.0 million unsecured revolving line of credit at an interest rate equal to the London Interbank Offered Rate plus 1.05% (the “WPC Line of Credit”). The WPC Line of Credit is currently scheduled to mature on January 16, 2021 and is intended to be used for the working capital needs of CPA:18 Limited Partnership and its subsidiaries.

The foregoing description of the Loan Documents is not complete and is qualified in its entirety by reference to the Loan Agreement, the Promissory Note and the Payment Guaranty, copies of which are filed as Exhibits 10.1, 10.2 and 10.3 to this report and incorporated herein by reference.

Item 9.01 — Financial Statements and Exhibits.

(d) Exhibits:

Exhibit No.	Description of Exhibit
10.1	Loan Agreement, dated as of July 16, 2020, between CPA:18 Limited Partnership, as Borrower, and W. P. Carey Inc., as Lender.
10.2	Promissory Note, made as of July 16, 2020, by CPA:18 Limited Partnership, as Borrower.
10.3	Payment Guaranty, made as of July 16, 2020, by Corporate Property Associates 18 - Global Incorporated, as Guarantor, in favor of W. P. Carey Inc., as Lender.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Corporate Property Associates 18 – Global Incorporated
Date:	July 22, 2020	By:	/s/ ToniAnn Sanzone
			ToniAnn Sanzone
			Chief Financial Officer

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