secwatch.observer — SEC 8-K summary
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Issuer:     Ares Commercial Real Estate Corp (ACRE)
CIK:        0001529377
Form:       8-K
Filed at:   2022-12-19T23:59:59+00:00
Accession:  0001628280-22-032214
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ares Commercial Real Estate extends Wells Fargo repurchase facility to Dec 2025, modifies pricing
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- Initial maturity extended to Dec 15, 2025; two one-year extension options to Dec 2026 and Dec 2027.
- Interest rate changed to one-month LIBOR or SOFR plus margin of 1.50% to 3.75%.
- Amendment eliminates benchmark replacement adjustment for SOFR on benchmark transition event.
- ACRC Lender W must use commercially reasonable efforts to dismiss pending Cook County, IL litigation (Case No. 2021-M1-400491).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1529377/000162828022032214/0001628280-22-032214-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1529377/000162828022032214/acre-20221214.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-032214

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer