{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-100408","form_type":"8-K","ticker":"FBRT","cik":"0001562528","company_name":"Franklin BSP Realty Trust, Inc.","filed_at":"2025-10-17T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.748384+00:00","generated_at":"2026-05-17T03:23:14.846519+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Franklin BSP Realty Trust closes $1.076B CRE securitization, issues $947M notes","bullets":["Subsidiary BSPRT 2025-FL12 Issuer issued nine classes of floating-rate notes, led by $608M Class A at SOFR+1.386%.","Note classes range from Class A (senior) to Class H and $64.6M Class J income notes; all mature April 2043.","Net proceeds primarily to repay credit facilities, fund future loans, and for general corporate purposes.","Portfolio comprises eight commercial/multifamily loans and 36 senior participations totaling ~$947M secured by the notes.","Weighted average life of offered notes ranges from 3.32 years (Class A) to 4.82 years (Class E); first interest payment Nov 17, 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-100408","json":"https://secwatch.observer/filing/0001104659-25-100408.json","markdown":"https://secwatch.observer/filing/0001104659-25-100408.md","text":"https://secwatch.observer/filing/0001104659-25-100408.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1562528/000110465925100408/0001104659-25-100408-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1562528/000110465925100408/tm2528860d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T03:23:14.846519+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d0f9c7b7f047e25b1f5993f453bf575d714bc90f","claim":"Franklin BSP Realty Trust, Inc. incurred senior notes of $608,138,000 Class A Senior Secured Floating Rate Notes Due 2043, $150,690,000 Class A-S, $78,035,000 Class B, $60,545,0 with U.S. Bank Trust Company, National Association at 1.3860% plus 1 Month CME Term SOFR for Class A, 1.6480% plus 1 Month CME Term SO maturing April 17, 2043.","evidence_excerpt":"general corporate purposes. The aggregate principal amounts of the following nine classes of Notes (each, a “Class”) were issued pursuant to the terms of the Indenture: (i) $608,138,000 Class A Senior Secured Floating Rate Notes Due 2043 (the “Class A Notes”); (ii) $150,690,000 Class A-S Second Priority Secured Floating Rate Notes Due 2043 (the “Class A-S","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1562528/000110465925100408/0001104659-25-100408-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$608,138,000 Class A Senior Secured Floating Rate Notes Due 2043, $150,690,000 Class A-S, $78,035,000 Class B, $60,545,0"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association"},{"label":"Rate","value":"1.3860% plus 1 Month CME Term SOFR for Class A, 1.6480% plus 1 Month CME Term SO"},{"label":"Maturity","value":"April 17, 2043"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}