--- schema_version: "secwatch.filing_event.v1" accession: "0001498547-23-000082" form_type: "8-K" ticker: "CMRF" cik: "0001498547" company_name: "CIM REAL ESTATE FINANCE TRUST, INC." filed_at: "2023-12-08T23:59:59+00:00" generated_at: "2026-06-07T15:32:14.190206+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.65 calibrated_materiality_score: 0.65 confidence: "high" source: SEC EDGAR --- # CIM Real Estate Finance Trust restructures Barclays facility; reduces CMFT limit to $558.9M, adds $691.1M CLR facility ## Summary - Amended MRA reduces CMFT maximum financing from $1.25B to $558.9M. - New CLR Repurchase Agreement provides up to $691.1M for commercial mortgage loans. - Combined CMFT and CLR maximum financing capped at $1.25B. - CLR facility matures December 4, 2026, with two one-year extension options. - Barclays receives guaranty from CIM Real Estate Finance Trust and CLR; financial covenants require min. $50M liquidity and net worth ≥ $1.0B. ## SEC filing metadata - accession: 0001498547-23-000082 - form_type: 8-K - ticker: CMRF - cik: 0001498547 - company_name: CIM REAL ESTATE FINANCE TRUST, INC. - filed_at: 2023-12-08T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.65 - calibrated_materiality_score: 0.65 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1498547/000149854723000082/0001498547-23-000082-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1498547/000149854723000082/cmft-20231204.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001498547-23-000082 - JSON: https://secwatch.observer/filing/0001498547-23-000082.json - Plain text: https://secwatch.observer/filing/0001498547-23-000082.txt ## Key facts - Debt Financings CIM REAL ESTATE FINANCE TRUST, INC. incurred credit facility of up to $691.1 million of financing with Barclays Bank PLC at per annum rates based on the Term Secured Overnight Financing Rate (“SOFR”), plu maturing December 4, 2026. - Instrument: credit facility - Principal: up to $691.1 million of financing - Counterparty: Barclays Bank PLC - Rate: per annum rates based on the Term Secured Overnight Financing Rate (“SOFR”), plu - Maturity: December 4, 2026 - Event: incurrence source text: (the “Company”), entered into an Amended and Restated Master Repurchase Agreement (the “Restated MRA”) with Barclays Bank PLC (“Barclays”), to amend and restate that certain Master Repurchase Agreement, dated September 21, 2020, by and between Barclays and the CMFT Seller, and acknowledged by the Company (the “Repurchase Agreement”), which provides financing for certain eligible assets of the CMFT Seller and advances to the CMFT Seller (the “Repurchase Facility”), as described in a Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission (“SEC”) on September 24, 2020, as such Repurchase Agreement was amended on July 27, 2021, February 23, 2022, and October 7, 2022, as discussed in a Current Report on Form 8-K filed by the Company with the SEC on August 2, 2021, March 1, 2022, and October 13, 2022, respectively. evidence_url: https://www.sec.gov/Archives/edgar/data/1498547/000149854723000082/0001498547-23-000082-index.htm - Debt Financings CIM REAL ESTATE FINANCE TRUST, INC. amended credit facility of reduce the maximum financing amount from $1.25 billion to $558.9 million with Barclays Bank PLC. - Instrument: credit facility - Principal: reduce the maximum financing amount from $1.25 billion to $558.9 million - Counterparty: Barclays Bank PLC - Event: amendment source text: (the “Company”), entered into an Amended and Restated Master Repurchase Agreement (the “Restated MRA”) with Barclays Bank PLC (“Barclays”), to amend and restate that certain Master Repurchase Agreement, dated September 21, 2020, by and between Barclays and the CMFT Seller, and acknowledged by the Company (the “Repurchase Agreement”), which provides financing for certain eligible assets of the CMFT Seller and advances to the CMFT Seller (the “Repurchase Facility”), as described in a Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission (“SEC”) on September 24, 2020, as such Repurchase Agreement was amended on July 27, 2021, February 23, 2022, and October 7, 2022, as discussed in a Current Report on Form 8-K filed by the Company with the SEC on August 2, 2021, March 1, 2022, and October 13, 2022, respectively. evidence_url: https://www.sec.gov/Archives/edgar/data/1498547/000149854723000082/0001498547-23-000082-index.htm - Material Agreements CIM REAL ESTATE FINANCE TRUST, INC. entered into Master Repurchase Agreement with Barclays Bank PLC valued at Up to $691.1 million financing for commercial real estate mortgage loans (effective 2023-12-04). - Action: entry - Agreement: credit facility - Counterparty: Barclays Bank PLC - Value: Up to $691.1 million financing for commercial real estate mortgage loans - Effective: 2023-12-04 source text: In addition, on December 4, 2023 (the "Closing Date"), CLR RE Lending RF Sub BB, LLC (the "CLR Seller"), an indirect wholly owned subsidiary of the Company, entered into a Master Repurchase Agreement (the "CLR Repurchase Agreement") with Barclays (the "Buyer"), which provides the CLR Seller up to $691.1 million of financing evidence_url: https://www.sec.gov/Archives/edgar/data/1498547/000149854723000082/0001498547-23-000082-index.htm - Material Agreements CIM REAL ESTATE FINANCE TRUST, INC. entered into Amended and Restated Master Repurchase Agreement with Barclays Bank PLC valued at Reduction of maximum financing amount from $1.25 billion to $558.9 million; CLR Repurchase Agreement (effective 2023-12-04). - Action: entry - Agreement: credit facility - Counterparty: Barclays Bank PLC - Value: Reduction of maximum financing amount from $1.25 billion to $558.9 million; CLR Repurchase Agreement - Effective: 2023-12-04 source text: On December 4, 2023, CMFT RE Lending RF Sub BB, LLC (the "CMFT Seller"), an indirect wholly owned subsidiary of CIM Real Estate Finance Trust, Inc. (the "Company"), entered into an Amended and Restated Master Repurchase Agreement (the "Restated MRA") with Barclays Bank PLC ("Barclays"), to amend and restate that certain Master Repurchase Agreement, dated September 21, 2020 evidence_url: https://www.sec.gov/Archives/edgar/data/1498547/000149854723000082/0001498547-23-000082-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.