secwatch.observer — SEC 8-K summary
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Issuer:     CIM REAL ESTATE FINANCE TRUST, INC. (CMRF)
CIK:        0001498547
Form:       8-K
Filed at:   2022-07-21T23:59:59+00:00
Accession:  0001498547-22-000060
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CIM Real Estate Finance Trust enters $300M credit facility, terminates prior $425M facility
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- New $300M facility includes $100M term loan and $200M revolver with $30M L/C subfacility, maturing July 15, 2025.
- Proceeds used to pay down $212.5M outstanding under prior $425M facility, which was terminated early before Sept 6, 2022 maturity.
- Interest rates tied to adjusted leverage ratio; term benchmark rate ranges from 1.50% to 2.375% plus SOFR-based rate.
- Company and certain subsidiaries guarantee obligations; equity interests in property-owning subsidiaries pledged as collateral.
- Facility replaces existing credit agreement with JPMorgan Chase and other lenders, extending maturity by nearly three years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1498547/000149854722000060/0001498547-22-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1498547/000149854722000060/cmft-20220715.htm
  HTML page:      https://secwatch.observer/filing/0001498547-22-000060

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