debt
confidence high
sentiment positive
materiality 0.55
CIM Real Estate Finance Trust subsidiary expands credit facility to up to $550M
CIM REAL ESTATE FINANCE TRUST, INC.
- Amendment No. 2 to Credit and Security Agreement increases available borrowings to $550M from previous amount.
- Citibank, N.A. remains administrative agent and lender; facility is revolving credit with Citi.
- As of Oct 4, 2021, $406.5M was outstanding, leaving ~$143.5M unused capacity.
- Borrower is bankruptcy-remote subsidiary CMFT Corporate Credit Securities, LLC.
- Amendment includes customary representations and fees; no defaults continuing.