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:   2023-12-26T23:59:59+00:00
Accession:  0001498547-23-000085
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CIM Real Estate Finance Trust amends repurchase facility to $70.5M and enters new $650M facility with Citibank
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- Amends existing MRA with Citibank, reducing CMFT facility from $400M to $70.5M, with further reductions upon payments.
- New CLR Repurchase Agreement provides up to $650M (minus CMFT amount) for financing commercial real estate loans.
- CLR facility matures December 2025, with three one-year extension options at seller's discretion.
- Guaranty imposes financial covenants: min liquidity $50M, min net worth $1B+, max leverage 4:1, min interest coverage 1.4x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1498547/000149854723000085/0001498547-23-000085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1498547/000149854723000085/cmft-20231219.htm
  HTML page:      https://secwatch.observer/filing/0001498547-23-000085

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