debt
confidence high
sentiment neutral
materiality 0.55
CIM Real Estate Finance Trust enters $300M repurchase agreement with Deutsche Bank
CIM REAL ESTATE FINANCE TRUST, INC.
- Up to $300M master repurchase facility with Deutsche Bank AG, New York Branch.
- Proceeds to finance commercial real estate mortgage loans originated or acquired.
- Initial maturity Oct 8, 2022, with four one-year extension options at Seller's option.
- Guaranty requires minimum liquidity of $50M, tangible net worth ≥$1B +75% of new equity, interest coverage ≥1.40x, leverage ≤4.00x.
- Pricing based on one-month LIBOR plus spread designated by Buyer in its sole discretion.