BrightSpire Capital Enters New Credit Agreement
Ticker: BRSP · Form: 8-K · Filed: Aug 23, 2024 · CIK: 1717547
| Field | Detail |
|---|---|
| Company | Brightspire Capital, Inc. (BRSP) |
| Form Type | 8-K |
| Filed Date | Aug 23, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, financing, material-agreement
Related Tickers: BRSP
TL;DR
BRSP just signed a new credit agreement, meaning new debt is on the books.
AI Summary
On August 22, 2024, BrightSpire Capital, Inc. entered into a Material Definitive Agreement, specifically a credit agreement. This agreement creates a direct financial obligation for the registrant, indicating new debt or financing arrangements. The filing also includes financial statements and exhibits related to this event.
Why It Matters
This filing signals a new debt obligation for BrightSpire Capital, which could impact its financial leverage and future investment capacity.
Risk Assessment
Risk Level: medium — Entering into new credit agreements can introduce financial leverage and obligations that may carry inherent risks.
Key Players & Entities
- BrightSpire Capital, Inc. (company) — Registrant
- August 22, 2024 (date) — Date of earliest event reported
FAQ
What is the specific nature of the Material Definitive Agreement entered into by BrightSpire Capital, Inc. on August 22, 2024?
The filing indicates the agreement is a credit agreement, creating a direct financial obligation for the registrant.
What is the accession number for this 8-K filing?
The accession number is 0001717547-24-000080.
What was BrightSpire Capital, Inc.'s former company name and when did the name change occur?
BrightSpire Capital, Inc. was formerly known as Colony Credit Real Estate, Inc. after a name change on June 21, 2018, and prior to that, Colony NorthStar Credit Real Estate, Inc. after a name change on September 20, 2017.
What is BrightSpire Capital, Inc.'s state of incorporation and fiscal year end?
BrightSpire Capital, Inc. is incorporated in Maryland and its fiscal year ends on December 31.
What are the business and mailing addresses for BrightSpire Capital, Inc. as listed in the filing?
Both the business and mailing addresses are listed as 590 Madison Avenue, 33rd Floor, New York, NY 10022.
Filing Stats: 639 words · 3 min read · ~2 pages · Grade level 10.4 · Accepted 2024-08-23 17:15:29
Key Financial Figures
- $0.01 — stered Class A common stock, par value $0.01 per share BRSP New York Stock Exchange
Filing Documents
- brsp-20240822.htm (8-K) — 30KB
- brsp8-k08222024exhibit101.htm (EX-10.1) — 1012KB
- 0001717547-24-000080.txt ( ) — 1383KB
- brsp-20240822.xsd (EX-101.SCH) — 2KB
- brsp-20240822_def.xml (EX-101.DEF) — 15KB
- brsp-20240822_lab.xml (EX-101.LAB) — 26KB
- brsp-20240822_pre.xml (EX-101.PRE) — 15KB
- brsp-20240822_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. Tenth Amendment to Master Repurchase Facility Transaction Documents - Morgan Stanley On August 22, 2024, MS Loan NT-I, LLC, MS Loan NT-II, LLC, BrightSpire Credit 1, LLC (formerly known as CLNC Credit 1, LLC), and BrightSpire Credit 2, LLC (formerly known as CLNC Credit 2, LLC) (collectively, "MS Seller"), each an indirect subsidiary of the Company, entered into a Tenth Omnibus Amendment (the "MS Tenth Amendment") to the Second Amended and Restated Master Repurchase and Securities Contract Agreement, dated April 23, 2019 (as amended from time to time, the "MS Repurchase Agreement") with Morgan Stanley Bank, N.A. ("Morgan Stanley"), to extend the maturity date of the MS Repurchase Agreement from April 20, 2025 to April 20, 2027. The foregoing summary does not purport to be a complete description and is qualified in its entirety by reference to the MS Tenth Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off Balance Sheet Arrangement of a Registrant. The information included in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibits are being furnished herewith to this Current Report on Form 8-K. Exhibit No. Description 10.1 Tenth Omnibus Amendment to Transaction Documents, dated as of August 22 , 2024, by and between MS Loan NT-I, LLC, MS Loan NT-II, LLC, BrightSpire Credit 1, LLC, and BrightSpire Credit 2, LLC and Morgan Stanley, N.A . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 23, 2024 BRIGHTSPIRE CAPITAL, INC. By: /s/ David A. Palam Name: David A. Palam Title: General Counsel and Secretary