secwatch.observer — SEC 8-K summary
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Issuer:     BrightSpire Capital, Inc. (BRSP)
CIK:        0001717547
Form:       8-K
Filed at:   2022-01-31T23:59:59+00:00
Accession:  0001717547-22-000006
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BrightSpire Capital subsidiary enters $165M credit facility, replaces $300M maturing facility
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- New $165M revolving credit facility with $25M letter of credit sublimit, can increase to $300M.
- Matures Jan 31, 2026, with two 6-month extension options available to borrower.
- Interest rates: adjusted SOFR + 2.25% or base rate + 1.25%; unused commitment fee 0.25%-0.35%.
- Financial covenants: min tangible net worth $1.112B, interest coverage ≥3.00x, debt/assets ≤0.80.
- Replaces $300M facility expiring Feb 1, 2022; borrowing base secured by investment assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1717547/000171754722000006/0001717547-22-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1717547/000171754722000006/brsp-20220128.htm
  HTML page:      https://secwatch.observer/filing/0001717547-22-000006

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