Invesco Commercial Real Estate Finance Trust, Inc.: debt financing — Invesco CRE Finance Trust enters $100M revolving credit facility with Goldman Sachs

Invesco Commercial Real Estate Finance Trust, Inc.

Facility limit of $100M, secured by capital commitments from Invesco Realty and Texas Municipal Retirement System.
Interest rate: Term SOFR + 2.90% or prime + 1.90%; administrative fee 0.20% annually.
Maturity is 30 days before last date to issue capital calls to investors.
Prepayable without penalty; 1% termination fee if refinanced with a non-Goldman lender.
Proceeds used for general corporate purposes; customary covenants and events of default apply.

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

Invesco Commercial Real Estate Finance Trust, Inc. incurred revolving credit of up to a maximum aggregate availability of $100 million with Goldman Sachs Bank USA at one-month Term SOFR plus 2.90% maturing 30 days prior to the last date on which the Company can issue capital calls to the Investors to repay obligations under the Credit Agreement.

Instrument: revolving credit
Principal: up to a maximum aggregate availability of $100 million
Counterparty: Goldman Sachs Bank USA
Rate: one-month Term SOFR plus 2.90%
Maturity: 30 days prior to the last date on which the Company can issue capital calls to the Investors to repay obligations under the Credit Agreement
Event: incurrence

Exact text from the filing

On December 11, 2023, Invesco Commercial Real Estate Finance Trust, Inc. (the “Company”), INCREF Borrower, LLC, and Invesco Advisers, Inc. (the "Adviser"), entered into a revolving credit facility agreement with Goldman Sachs Bank USA ("Goldman"), as administrative agent and lender (the "Credit Agreement"). The Credit Agreement provides for revolving loans of up to a maximum aggregate availability of $100 million.

View on SEC.gov

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

Invesco Commercial Real Estate Finance Trust, Inc. entered into Credit Agreement with Goldman Sachs Bank USA valued at $100 million (effective 2023-12-11).

Action: entry
Agreement: credit facility
Counterparty: Goldman Sachs Bank USA
Value: $100 million
Effective: 2023-12-11

Exact text from the filing

On December 11, 2023, Invesco Commercial Real Estate Finance Trust, Inc. (the “Company”), INCREF Borrower, LLC, and Invesco Advisers, Inc. (the "Adviser"), entered into a revolving credit facility agreement with Goldman Sachs Bank USA ("Goldman"), as administrative agent and lender (the "Credit Agreement"). The Credit Agreement provides for revolving loans of up to a maximum aggregate availability of $100 million.

View on SEC.gov

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Source: SEC EDGAR

accession 0001976927-23-000016

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