FS Credit Real Estate Income Trust enters $350M repurchase facility with Morgan Stanley

FS Credit Real Estate Income Trust, Inc.

Up to $350M in purchase commitments to finance senior commercial and multifamily mortgage loans, A-notes, and mezzanine loans.
Facility terminates December 9, 2030, with one-year extension options at Administrative Agent's discretion.
FSCREIT guarantees obligations; EBITDA/interest ratio ≥1.40:1.00 and total debt/tangible net worth ≤3.50:1.00.
Replaces prior October 2022 master repurchase agreement; price differential is spread over Term SOFR.
Covenants include minimum liquidity of greater of $15M or 5% of aggregate outstanding under facility.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

FS Credit Real Estate Income Trust, Inc. incurred credit facility of aggregate purchase price commitments of up to $350,000,000 with Morgan Stanley Bank, N.A. at a spread over Term SOFR maturing December 9, 2030.

Instrument: credit facility
Principal: aggregate purchase price commitments of up to $350,000,000
Counterparty: Morgan Stanley Bank, N.A.
Rate: a spread over Term SOFR
Maturity: December 9, 2030
Event: incurrence

Exact text from the filing

The MS-1 Facility provides for aggregate purchase price commitments of up to $350,000,000. Each transaction under the MS-1 Facility will accrue price differential at a spread over Term SOFR and is subject to customary margin maintenance provisions. The MS-1 Facility has a termination date of December 9, 2030, subject to one-year extension options at the Administrative Agent’s discretion upon satisfaction of specified conditions.

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Source: SEC EDGAR

accession 0001104659-25-121110

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