Granite Point Mortgage Trust Amends Repurchase Facilities with $425M JPMorgan Increase

Granite Point Mortgage Trust Inc.

JPMorgan Amendment increases maximum facility amount to $425 million for subsidiary GP Commercial JPM LLC.
Goldman Sachs Amendment updates benchmark rate transition mechanics, replacing LIBOR with Term SOFR.
Amendments entered on March 16-17, 2023, with JPMorgan Chase Bank and Goldman Sachs Bank USA.
Granite Point Mortgage Trust Inc. (NYSE: GPMT) acts as guarantor for both repurchase facilities.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Granite Point Mortgage Trust Inc. amended Amendment No. 9 to Master Repurchase Agreement and Amendment No. 5 to Fee and Pricing Letter with JPMorgan Chase Bank, National Association valued at Maximum Facility Amount increased to $425,000,000 (effective 2023-03-16).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, National Association
Value: Maximum Facility Amount increased to $425,000,000
Effective: 2023-03-16

Exact text from the filing

AMENDMENT NO. 9 TO MASTER REPURCHASE AGREEMENT AND AMENDMENT NO. 5 TO FEE AND PRICING LETTER, dated as of March 16, 2023 (this “ Amendment ”), between GP COMMERCIAL JPM LLC (f/k/a TH COMMERCIAL JPM LLC) (“ Seller ”), a Delaware limited liability company, and JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a national banking association (the “ Buyer ”).

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Granite Point Mortgage Trust Inc. filing history →

Source: SEC EDGAR

accession 0001703644-23-000067

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