Benefit Street Partners Realty Trust Enters into $100 Million Credit Facility
April 2, 2020
On March 26, 2020, Benefit Street Partners Realty Trust, Inc. (the “Company”), through its indirect wholly-owned subsidiaries, entered into a credit facility (the “Credit Facility”) with Security Benefit Life Insurance Company (the “Lender”). The Credit Facility provides up to $100.0 million in advances, subject to adjustment, and bears interest at a per annum base rate plus an applicable margin. The Credit Facility acts in the manner of a revolving credit facility that can be repaid and re-drawn from time to time. The Company may draw on the Credit Facility until August 11, 2022, with all amounts due back to the Lender by the maturity date of February 10, 2023. The Credit Facility is collateralized by a pledge of equity interests in certain of the Company’s subsidiaries. The Credit Facility contains representations, warranties, covenants, conditions precedent to funding, events of default and indemnities that are customary for agreements of this type.
Source: SEC
