FS Credit Real Estate Income Trust, Inc.: debt financing — FS Credit Real Estate Income Trust amends credit facilities, increases revolver to $425M, extends maturities

FS Credit Real Estate Income Trust, Inc.

MM-1 Facility amended: spread to 2.30% (up from 2.025%+0.11% CS adj), availability to Sep 2026, maturity to Sep 2031.
Barclays revolver commitments increased from $310M to $425M.
$400M of Barclays revolver extended to Apr 24, 2027; $25M remains due Aug 1, 2025.
Proceeds used for operating expenses and general corporate purposes.

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 revolving credit of $425 million with Barclays Bank PLC, as administrative agent and as a lender maturing April 24, 2027.

Instrument: revolving credit
Principal: $425 million
Counterparty: Barclays Bank PLC, as administrative agent and as a lender
Maturity: April 24, 2027
Event: amendment

Exact text from the filing

increases the lenders' aggregate commitments from $310 million to $425 million, and (b) extends the revolving credit termination date in respect of $400 million of the lenders' commitments from August 1, 2025, to April 24, 2027, while the revolving credit termination date of the remaining $25 million commitment remains August 1, 2025.

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

FS Credit Real Estate Income Trust, Inc. amended credit facility with Wells Fargo Bank, National Association, as administrative agent, Massachusetts Mutual Life Insurance Company and C.M. Life Insurance Company at 2.30% maturing September 20, 2031.

Instrument: credit facility
Counterparty: Wells Fargo Bank, National Association, as administrative agent, Massachusetts Mutual Life Insurance Company and C.M. Life Insurance Company
Rate: 2.30%
Maturity: September 20, 2031
Event: amendment

Exact text from the filing

increases the applicable spread over the one-month Term SOFR benchmark rate from (i) 2.025% plus a credit spread adjustment of 0.11% to (ii) 2.30%, (b) extends the end of the availability period from September 20, 2024, to September 20, 2026, and (c) extends the scheduled maturity date from September 20, 2029, to September 20, 2031.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

FS Credit Real Estate Income Trust, Inc. entered into Amended and Restated Credit Agreement with Barclays Bank PLC valued at Increases lenders' aggregate commitments from $310 million to $425 million; extends revolving credit (effective 2024-04-24).

Action: entry
Agreement: credit facility
Counterparty: Barclays Bank PLC
Value: Increases lenders' aggregate commitments from $310 million to $425 million; extends revolving credit
Effective: 2024-04-24

Exact text from the filing

On April 24, 2024, the Company, as borrower, entered into an Amended and Restated Credit Agreement with Barclays Bank PLC, as administrative agent and as a lender, certain other lenders, and the other parties thereto.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

FS Credit Real Estate Income Trust, Inc. amended Second Amendment to the Amended and Restated Loan and Servicing Agreement with Wells Fargo Bank, National Association, Massachusetts Mutual Life Insurance Company, C.M. Life Insurance Company valued at Increases spread from 2.025%+0.11% to 2.30%; extends availability period to Sep 20, 2026; extends ma (effective 2024-04-23).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association, Massachusetts Mutual Life Insurance Company, C.M. Life Insurance Company
Value: Increases spread from 2.025%+0.11% to 2.30%; extends availability period to Sep 20, 2026; extends ma
Effective: 2024-04-23

Exact text from the filing

On April 23, 2024, FS CREIT Finance MM-1 LLC (an indirectly wholly owned subsidiary of FS Credit Real Estate Income Trust, Inc. (the “ Company ”)), as borrower, entered into a Second Amendment to the Amended and Restated Loan and Servicing Agreement, originally dated as of April 27, 2022, with Wells Fargo Bank, National Association, as administrative agent, Massachusetts Mutual Life Insurance Company and C.M. Life Insurance Company, as lenders, and the other parties thereto.

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316 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001193125-24-122883

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