secwatch.observer — SEC 8-K summary
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Issuer:     BrightSpire Capital, Inc. (BRSP)
CIK:        0001717547
Form:       8-K
Filed at:   2025-12-19T23:59:59+00:00
Accession:  0001717547-25-000088
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BrightSpire reduces net worth covenant to $900M, expands Wells facility to $500M
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- Wells facility increased from $400M to $500M (upsize to $600M subject to approval).
- Minimum consolidated tangible net worth reduced from $1.11B to $900M for all four lenders.
- Barclays facility (8th amendment) and Citibank guaranty (amended & restated) reflect same $900M threshold.
- Morgan Stanley 11th amendment also lowers net worth covenant to $900M.
- All amendments dated Dec 16-17, 2025; extend liquidity and financial flexibility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1717547/000171754725000088/0001717547-25-000088-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1717547/000171754725000088/brsp-20251216.htm
  HTML page:      https://secwatch.observer/filing/0001717547-25-000088

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