secwatch.observer — SEC 8-K summary
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Issuer:     Franklin BSP Realty Trust, Inc. (FBRT)
CIK:        0001562528
Form:       8-K
Filed at:   2023-10-03T23:59:59+00:00
Accession:  0001104659-23-106427
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Franklin BSP Realty Trust subsidiary closes ~$897M CRE mortgage securitization, selling $767M notes
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- Issued 9 classes of floating-rate notes secured by 10 CRE mortgage loans totalling ~$897M as of Sept 28, 2023.
- Sold $767M of notes (Class A through E) in private placement; net proceeds to repay credit facilities and fund future loans.
- Class A notes ($461.7M) carry initial spread of SOFR + 2.259%; remaining classes have spreads up to SOFR + 5.868%.
- Expected weighted average life of offered notes ranges from 2.67 years (Class A) to 4.21 years (Class E).
- Affiliate retained preferred shares; notes are limited recourse obligations of the issuer only.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1562528/000110465923106427/0001104659-23-106427-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1562528/000110465923106427/tm2327447d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-106427

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