debt
confidence high
sentiment neutral
materiality 0.55
CMFT expands Wells Fargo repurchase facility to $750M from $580M
CIM REAL ESTATE FINANCE TRUST, INC.
- Maximum financing amount increased from $580M to $750M (a $170M increase).
- Second Amendment to Master Repurchase Agreement dated March 4, 2022; other material terms unchanged.
- Amendment prohibits new LIBOR-based transactions after Dec 31, 2021; transition to alternative rates.
- Facility provides financing for eligible assets and advances; secured by mortgage loans.
- Guarantor CIM Real Estate Finance Trust and pledgors reaffirm obligations under the amended agreement.