VINEBROOK HOMES TRUST, INC.: debt financing — VineBrook completes $392M securitization of 2,776 single-family rental homes

VINEBROOK HOMES TRUST, INC.

5-year, fixed-rate, interest-only loan with $392.18M total principal; weighted average rate of 4.7500% on regular certificates.
Closing included 2,776 homes in collateral pool; net proceeds ~$313.97M after discount and OP's risk-retention certificates.
Proceeds used to repay warehouse facility, fund reserves, pay down other debt, and for general corporate purposes.
OP retained $39.096M Class F certificates for risk retention; initial maturity date December 8, 2028.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VINEBROOK HOMES TRUST, INC. incurred loan of $392,180,000 with Bank of America, National Association at fixed-rate maturing December 8, 2028.

Instrument: loan
Principal: $392,180,000
Counterparty: Bank of America, National Association
Rate: fixed-rate
Maturity: December 8, 2028
Event: incurrence

Exact text from the filing

On December 6, 2023, the OP completed a securitization transaction, in connection with which, VineBrook Homes Borrower 1, LLC, an indirect special purpose subsidiary of the OP (the “Borrower”), entered into a loan agreement (the “Loan Agreement”) with Bank of America, National Association, as lender (the “Lender”), providing for a 5-year, fixed-rate, interest-only loan with a total principal balance of $392,180,000 (the “Loan”).

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Source: SEC EDGAR

accession 0001755755-23-000029

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