FS Credit Real Estate Income Trust, Inc.: debt financing — FS Credit Real Estate Income Trust expands repurchase facility with Goldman Sachs to $450M

FS Credit Real Estate Income Trust, Inc.

Maximum facility amount raised to $450M; $100M sub-limit for Type B (distressed) assets.
Availability period extended to January 26, 2025, providing longer-term financing flexibility.
Type A advance rate up to 80% (75% standard); Type B capped at 70% with required recovery plan.
Concentration limits set: hospitality/retail max 60%, single property type max 70% of facility.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

FS Credit Real Estate Income Trust, Inc. amended credit facility of $450,000,000 with Goldman Sachs Bank USA maturing January 26, 2025.

Instrument: credit facility
Principal: $450,000,000
Counterparty: Goldman Sachs Bank USA
Maturity: January 26, 2025
Event: amendment

Exact text from the filing

The Twelfth Amendment to Master Repurchase Agreement provides for, among other things, the extension of the availability period extension date to January 26, 2025, and an increase to the maximum facility purchase price to $450,000,000.

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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 Twelfth Amendment to Master Repurchase Agreement with Goldman Sachs Bank USA valued at $450,000,000 (effective 2023-03-17).

Action: amendment
Agreement: credit facility
Counterparty: Goldman Sachs Bank USA
Value: $450,000,000
Effective: 2023-03-17

Exact text from the filing

On March 17, 2023, FS CREIT Finance GS-1 LLC, or GS-1, an indirect wholly owned special-purpose financing subsidiary of FS Credit Real Estate Income Trust, Inc., or the Company, entered into a Twelfth Amendment to Uncommitted Master Repurchase and Securities Contract Agreement and Sixth Amendment to Guarantee Agreement, or Twelfth Amendment to Master Repurchase Agreement, amending (a) that certain Uncommitted Master Repurchase and Securities Contract Agreement dated as of January 26, 2018 with Goldman Sachs Bank USA, or Goldman Sachs, as purchaser and (b) that certain Guarantee Agreement dated as of January 26, 2018 by the Company in favor of Goldman Sachs. The Twelfth Amendment to Master Repurchase Agreement provides for, among other things, the extension of the availability period extension date to January 26, 2025, and an increase to the maximum facility purchase price to $450,000,000.

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Source: SEC EDGAR

accession 0001193125-23-076750

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