Claros Mortgage Trust, Inc. (CMTG): debt financing — CMTG closes $500M secured term loan with HPS; repays $556M Term Loan B due Aug 2026

Claros Mortgage Trust, Inc.

$500M term loan at SOFR+6.75%, matures Jan 2030; from HPS-managed funds.
Proceeds plus cash used to fully repay $556.2M Term Loan B due August 9, 2026.
Issued 10-year warrants for 7,542,227 shares at $4.00/share (46% premium to Jan 30 close).
Aligned covenants across facilities: interest coverage ratio waived through June 2027, then phased step-ups to 1.30x.
HPS gets board observer rights; on default, observers become directors and restructuring committee may recommend termination of external manager.

item 1.01 item 5.03 item 1.02 item 2.03 item 3.02 item 7.01 item 9.01

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

Claros Mortgage Trust, Inc. incurred term loan of $500.0 million with HPS Investment Partners, LLC at Term SOFR Rate plus 6.75% maturing January 30, 2030.

Instrument: term loan
Principal: $500.0 million
Counterparty: HPS Investment Partners, LLC
Rate: Term SOFR Rate plus 6.75%
Maturity: January 30, 2030
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a term loan credit facility consisting of an initial term loan (the “Term Loan”) in an aggregate principal amount of $500.0 million.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Claros Mortgage Trust, Inc.: Amended and restated bylaws to add governance provisions tied to the Credit Agreement, including automatic board expansion and election of board observers as directors upon a Material Event of Default, formation of a Restructuring Committee, and consent rights for the administrative agent (effective 2026-01-30).

Change: bylaw amendment
Effective: 2026-01-30

Exact text from the filing

On January 30, 2026, the Board approved and adopted the Company's Amended and Restated By-laws (the “Amended and Restated By-laws”), effective as of the Closing Date.

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

Claros Mortgage Trust, Inc. entered into Credit Agreement with lenders party thereto and HPS Investment Partners, LLC valued at $500.0 million (effective 2026-01-30).

Action: entry
Agreement: credit facility
Counterparty: lenders party thereto and HPS Investment Partners, LLC
Value: $500.0 million
Effective: 2026-01-30

Exact text from the filing

On January 30, 2026 (the “Closing Date”), Claros Mortgage Trust, Inc., a Maryland corporation (“CMTG” or the “Company”), entered into a Term Loan Credit Agreement (the “Credit Agreement”), as borrower, with the lenders party thereto and HPS Investment Partners, LLC (“HPS”), acting not individually but in its capacities as administrative agent for the lenders and collateral agent for the secured parties.

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Claros Mortgage Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-032775

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