Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Ares Commercial Real Estate Corp amended credit facility with Wells Fargo Bank, National Association at one-month LIBOR or SOFR, as applicable, plus a pricing margin which ranges from maturing December 15, 2025.
- Instrument
- credit facility
- Counterparty
- Wells Fargo Bank, National Association
- Rate
- one-month LIBOR or SOFR, as applicable, plus a pricing margin which ranges from
- Maturity
- December 15, 2025
- Event
- amendment
Exact text from the filing
On December 14, 2022, ACRC Lender W LLC and ACRC Lender W TRS LLC (collectively, “ACRC Lender W”), each a subsidiary of Ares Commercial Real Estate Corporation, entered into Amendment No. 1 to the Third Amended and Restated Master Repurchase and Securities Contract (the “Wells Facility”) with Wells Fargo Bank, National Association (“Wells”). The purpose of the amendment was to, among other things, extend the initial maturity date and funding period of the Wells Facility to December 15, 2025 and modify the interest rate on advances under the Wells Facility to a rate of one-month LIBOR or SOFR, as applicable, plus a pricing margin which ranges from 1.50% to 3.75% (or as otherwise agreed in the related confirmation).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Ares Commercial Real Estate Corp amended Wells Facility with Wells Fargo Bank, National Association (effective 2022-12-14).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Wells Fargo Bank, National Association
- Effective
- 2022-12-14
Exact text from the filing
On December 14, 2022, ACRC Lender W LLC and ACRC Lender W TRS LLC (collectively, “ACRC Lender W”), each a subsidiary of Ares Commercial Real Estate Corporation, entered into Amendment No. 1 to the Third Amended and Restated Master Repurchase and Securities Contract (the “Wells Facility”) with Wells Fargo Bank, National Association (“Wells”).
View on SEC.gov