Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Safehold Inc. incurred revolving credit of $2 billion with JPMorgan Chase Bank, N.A., as administrative agent, and certain other financial institutions at adjusted SOFR term rate plus an applicable rate ranging from 0.800% to 1.450% de maturing May 1, 2029, which includes two six-month extension options.
- Instrument
- revolving credit
- Principal
- $2 billion
- Counterparty
- JPMorgan Chase Bank, N.A., as administrative agent, and certain other financial institutions
- Rate
- adjusted SOFR term rate plus an applicable rate ranging from 0.800% to 1.450% de
- Maturity
- May 1, 2029, which includes two six-month extension options
- Event
- incurrence
Exact text from the filing
On April 12, 2024, Safehold GL Holdings LLC (the “Borrower”) entered into an unsecured revolving loan agreement with JPMorgan Chase Bank, N.A., as administrative agent, and certain other financial institutions party thereto (the “New Credit Agreement”). Pursuant to the New Credit Agreement, Safehold Inc. (the “Company”) gave a guaranty pursuant to which it has absolutely and unconditionally guaranteed the payment and performance of the obligations of the Borrower under the New Credit Agreement as and when due and payable. The New Credit Agreement provides for $2 billion of revolving loan commitments available for working capital and general corporate purposes with a maturity date of May 1, 2029, which includes two six-month extension options. The New Credit Agreement also includes an accordion feature to increase the revolving commitments or add one or more tranches of term loans up to an aggregate amount of $500 million, subject to obtaining lender commitments and the satisfaction of
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Safehold Inc. terminated 2021 Agreement and 2023 Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and certain other financial institutions valued at Termination of $916 million outstanding under 2021 Agreement and $0 outstanding under 2023 Agreement (effective 2024-04-12).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- JPMorgan Chase Bank, N.A., as administrative agent, and certain other financial institutions
- Value
- Termination of $916 million outstanding under 2021 Agreement and $0 outstanding under 2023 Agreement
- Effective
- 2024-04-12
Exact text from the filing
On April 12, 2024, in connection with the Borrower’s entry into the unsecured revolving loan facility pursuant to the New Credit Agreement, the Borrower terminated and repaid in full, using proceeds from the New Credit Agreement as well as cash on hand, the outstanding facilities under (x) that certain Credit Agreement (the “2021 Agreement”), dated as of March 31, 2021, by and among the Borrower, the Company, JPMorgan Chase Bank, N.A. as administrative agent, and certain other financial institutions party thereto and (y) that certain Credit Agreement, dated as of January 9, 2023 (the “2023 Agreement”), by and among the Borrower, the Company, JPMorgan Chase Bank, N.A., as administrative agent, and certain other financial institutions party thereto.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Safehold Inc. entered into New Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and certain other financial institutions valued at $2,000,000,000 revolving loan commitments (effective 2024-04-12).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- JPMorgan Chase Bank, N.A., as administrative agent, and certain other financial institutions
- Value
- $2,000,000,000 revolving loan commitments
- Effective
- 2024-04-12
Exact text from the filing
On April 12, 2024, Safehold GL Holdings LLC (the “Borrower”) entered into an unsecured revolving loan agreement with JPMorgan Chase Bank, N.A., as administrative agent, and certain other financial institutions party thereto (the “New Credit Agreement”).
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