FS Credit Real Estate Income Trust, Inc.: debt financing — 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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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FS Credit Real Estate Income Trust, Inc. amended Amended and Restated Master Repurchase and Securities Contract Agreement with Morgan Stanley Mortgage Capital Holdings LLC, Morgan Stanley Bank, N.A. and certain other financial institutions valued at $350,000,000 (effective 2025-12-09).

Action: amendment
Agreement: credit facility
Counterparty: Morgan Stanley Mortgage Capital Holdings LLC, Morgan Stanley Bank, N.A. and certain other financial institutions
Value: $350,000,000
Effective: 2025-12-09

Exact text from the filing

ntered into an Amended and Restated Master Repurchase and Securities Contract Agreement (the “Repurchase Agreement,” and,

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Source: SEC EDGAR

accession 0001104659-25-121110

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