debt
confidence high
sentiment positive
materiality 0.55
Sunrise Realty Trust expands revolving credit facility to $90M with City National Bank as joint lead arranger
Sunrise Realty Trust, Inc.
- Amendment to Loan and Security Agreement dated May 16, 2025; increases commitments by $40M to $90M total.
- City National Bank of Florida added as Joint Lead Arranger alongside East West Bank as Administrative Agent.
- Facility expandable to $200M subject to customary conditions and additional lender participation.
- Proceeds to fund commercial real estate loan pipeline, support existing commitments, and general working capital.
- Added leverage ratio covenant ≤3.25x; modified liquidity covenant requiring greater of $5M or 10% of obligations.
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