debt
confidence high
sentiment neutral
materiality 0.50
CMFT amends credit facility: extends reinvestment, adds Broadly Syndicated/Middle Market/Private Credit loans
CIM REAL ESTATE FINANCE TRUST, INC.
- Interest rate modified to one-month Term SOFR plus spread based on loan type.
- Eligible collateral expanded to include Broadly Syndicated Loans, Middle Market Loans, and Private Credit Loans.
- Reinvestment Period extended to three years from June 23, 2022.
- Outstanding borrowings of $521.5M as of amendment date; no events of default.
- Amendment also updates representations, warranties, and conditions for new loan types.