Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Claros Mortgage Trust, Inc. incurred credit facility of $214.4 million with JPMorgan Chase Bank, N.A. at one-month SOFR plus a specified spread maturing March 31, 2028 but is extendable to March 31, 2030.
- Instrument
- credit facility
- Principal
- $214.4 million
- Counterparty
- JPMorgan Chase Bank, N.A.
- Rate
- one-month SOFR plus a specified spread
- Maturity
- March 31, 2028 but is extendable to March 31, 2030
- Event
- incurrence
Exact text from the filing
On March 31, 2025 (the “Closing Date”), Claros Mortgage Trust, Inc. (the "Company") and CMTG JNP Finance LLC (“SVP Seller”), a wholly-owned subsidiary of the Company, entered into that certain Uncommitted Master Repurchase Agreement (the “Agreement”) with JPMorgan Chase Bank, N.A., (the “Buyer”). The Agreement establishes a repurchase facility with a maximum facility amount of $214.4 million. The Facility is fully recourse to the Company and matures on March 31, 2028 but is extendable to March 31, 2030, subject to the satisfaction of certain conditions. Advances under the Facility accrue interest at a rate equal to one-month SOFR plus a specified spread related to each asset financed.
View on SEC.gov