debt
confidence high
sentiment neutral
materiality 0.80
CIM Real Estate Finance Trust Issues $774M Net-Lease Mortgage Notes, Repays $500M Credit Facility
CIM REAL ESTATE FINANCE TRUST, INC.
- Issued $774M in Net-Lease Mortgage Notes Series 2021-1 across six tranches (A-1 to A-6) rated AAA to A by S&P.
- Proceeds used to repay and terminate $500M JPMorgan unsecured credit agreement with $1.24B capacity.
- Collateral pool includes 170 net-leased properties; top sectors: health stores (21%), building materials (14%), gas stations (12%).
- Notes backed by a guarantee from operating partnership for fraud, environmental breaches, and certain bankruptcy events.