ACRES extends note warrant deadline to July 2022; amends repo agreements for LIBOR transition

ACRES Commercial Realty Corp.

Amendment No. 1 with Oaktree and Mass Mutual extends the window to issue Additional Notes from Jan 31, 2022 to July 31, 2022.
Morgan Stanley repo agreement amended to replace LIBOR with Term SOFR and add benchmark transition provisions, effective Jan 28, 2022.
Barclays repo agreement amended to replace LIBOR with Term SOFR/SOFR Average and update eligibility criteria, effective Feb 3, 2022.
No changes to financial terms, limits, or pricing were disclosed; amendments are procedural for benchmark transition.
Both repo amendments are standard market practice for the LIBOR phase-out; no material impact on operations.

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