GPMT expands JPMorgan repurchase facility by up to $100M with 18-month term

Granite Point Mortgage Trust Inc.

Maximum facility amount increased to $425M plus any Additional Advance Maximum Amount.
Additional Advance Amounts of up to $100M available for up to 18 months (including 6-month extension option).
Amendments modify minimum interest expense coverage covenant and set recourse level for Additional Advances.
Guarantor must maintain at least $100M in unrestricted cash during Additional Advance Cash Sweep Periods.
Amendment fee of $250,000 paid by subsidiary GP Commercial JPM LLC.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Granite Point Mortgage Trust Inc. amended Amendment No. 11 to Master Repurchase Agreement with JPMorgan Chase Bank, National Association (effective 2023-10-12).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, National Association
Effective: 2023-10-12

Exact text from the filing

AMENDMENT NO. 11 TO MASTER REPURCHASE AGREEMENT, dated as of October 12, 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 0001703644-23-000110

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