8-K
filed November 6, 2023, 6:59 PM ET
ticker GHI
CIK 0001059142
debt
confidence high
sentiment positive
materiality 0.70
Greystone Housing Impact Investors LP (GHI): debt financing — Greystone Housing completes $61.5M TEBS residual financing at 7.125% fixed rate
Greystone Housing Impact Investors LP
- Net proceeds ~$60.4M; $57.9M used to repay existing Secured Notes, reducing outstanding to ~$20.3M.
- CEO says new non-recourse, non-mark-to-market financing provides ~3.9% effective interest cost savings vs prior variable-rate debt.
- Partnership retained $20.5M of residual Class B-2 Certificates entitled to remaining cash flows after senior payments.
- Class B-1 Certificates bear fixed 7.125% interest, payable monthly; term ends at earlier of repayment or July 25, 2034.
- Transaction closed Nov 1, 2023; Partnership remains administrator with residual obligations under Freddie Mac support agreements.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Greystone Housing Impact Investors LP incurred debt of approximately $61.5 million with Jefferies LLC at 7.125% per annum maturing July 25, 2034.
- Principal
- approximately $61.5 million
- Counterparty
- Jefferies LLC
- Rate
- 7.125% per annum
- Maturity
- July 25, 2034
- Event
- incurrence
Exact text from the filing
The Class B-1 Certificates were purchased by Jefferies LLC (the “Initial Purchaser”) which then sold the Class B-1 Certificates to unaffiliated investors.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Greystone Housing Impact Investors LP entered into Administration Agreement with Trustee and Issuer (effective 2023-11-01).
- Action
- entry
- Counterparty
- Trustee and Issuer
- Effective
- 2023-11-01
Exact text from the filing
The Administration Agreement between the Partnership, the Trustee, and the Issuer restates the obligations of the Administrator set out in the Trust Agreement.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Greystone Housing Impact Investors LP entered into Trust Agreement with Issuer and Wilmington Trust, National Association (Trustee) (effective 2023-11-01).
- Action
- entry
- Counterparty
- Issuer and Wilmington Trust, National Association (Trustee)
- Effective
- 2023-11-01
Exact text from the filing
Under the Trust Agreement, the Issuer issued the Class B-1 Certificates and Class B-2 Certificates which are payable solely from the distributions on the Class B Certificates.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Greystone Housing Impact Investors LP entered into Portfolio Purchase Agreement with Wisconsin Public Financing Authority (Issuer) valued at approximately $82.0 million (effective 2023-11-01).
- Action
- entry
- Counterparty
- Wisconsin Public Financing Authority (Issuer)
- Value
- approximately $82.0 million
- Effective
- 2023-11-01
Exact text from the filing
Under the Portfolio Purchase Agreement between the Partnership and the Issuer, the Partnership sold and conveyed the Class B Certificates to the Issuer for the purchase price of approximately $82.0 million.
View on SEC.gov
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