---
schema_version: "secwatch.filing_event.v1"
accession: "0001703644-23-000101"
form_type: "8-K"
ticker: "GPMT"
cik: "0001703644"
company_name: "Granite Point Mortgage Trust Inc."
filed_at: "2023-08-04T23:59:59+00:00"
generated_at: "2026-06-12T06:06:19.992236+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# GPMT amends repurchase facility guaranties; eases tangible net worth and interest coverage covenants

## Summary
- Revised tangible net worth minimum to $816.9M + 75% of net equity proceeds after Aug 3, 2023.
- Minimum interest coverage ratio lowered to 1.30x for 2023-2024; steps up to 1.40x-1.50x thereafter.
- New total debt-to-total assets covenant of 77.5% for target investments; up to 80% overall.
- Amendments executed with Morgan Stanley, JPMorgan, Goldman Sachs, and Citibank.
- CECL reserve and VIE consolidation adjustments excluded from covenant calculations.

## SEC filing metadata
- accession: 0001703644-23-000101
- form_type: 8-K
- ticker: GPMT
- cik: 0001703644
- company_name: Granite Point Mortgage Trust Inc.
- filed_at: 2023-08-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1703644/000170364423000101/0001703644-23-000101-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1703644/000170364423000101/gpmt-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001703644-23-000101
- JSON: https://secwatch.observer/filing/0001703644-23-000101.json
- Plain text: https://secwatch.observer/filing/0001703644-23-000101.txt

## Key facts
- Material Agreements
  Granite Point Mortgage Trust Inc. amended Amendments to Limited Guaranties for Repurchase Facilities with Morgan Stanley Bank, N.A.; JPMorgan Chase Bank, National Association; Goldman Sachs Bank USA; Citibank, N.A. valued at Modified Minimum Tangible Net Worth and Minimum Interest Expense Coverage Ratio financial covenants (effective 2023-08-03).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Morgan Stanley Bank, N.A.; JPMorgan Chase Bank, National Association; Goldman Sachs Bank USA; Citibank, N.A.
  - Value: Modified Minimum Tangible Net Worth and Minimum Interest Expense Coverage Ratio financial covenants
  - Effective: 2023-08-03
  source text: On August 3, 2023, the Company entered into an amendment to each Limited Guaranty (collectively, the "Amendments") to, among other things, modify the "Minimum Tangible Net Worth" and "Minimum Interest Expense Coverage Ratio" (each as defined in such Limited Guaranty) financial covenants in such Limited Guaranty.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1703644/000170364423000101/0001703644-23-000101-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.