secwatch.observer — SEC 8-K summary
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Issuer:     Seven Hills Realty Trust (SEVN)
CIK:        0001452477
Form:       8-K
Filed at:   2022-03-16T23:59:59+00:00
Accession:  0001104659-22-034510
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Seven Hills Realty Trust secures up to $125M Wells Fargo repurchase facility, extends Citibank facility to 2025
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- New $125M Wells Fargo master repurchase facility (expandable to $250M) for floating-rate commercial mortgage loans.
- Advance rates up to 75-80% of asset value; interest at SOFR plus premium; matures March 2025.
- Seven Hills guarantees 25% of aggregate repurchase price and 100% of losses for certain bad acts.
- Amended Citibank facility extends maturity to March 2025 and replaces LIBOR with SOFR.
- Guarantee includes financial covenants: minimum tangible net worth, liquidity, interest coverage, debt-to-equity ratio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1452477/000110465922034510/0001104659-22-034510-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1452477/000110465922034510/tm229407d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-034510

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