Ladder Capital Corp. Enters Material Definitive Agreement

TL;DR

Ladder Capital just signed a big deal, creating a new financial obligation. Details to follow.

AI Summary

On December 20, 2024, Ladder Capital Corp. entered into a material definitive agreement, creating a direct financial obligation. The company, headquartered at 320 Park Avenue, New York, NY, filed an 8-K report detailing this event. Specific details regarding the agreement and its financial implications were not fully disclosed in the provided text.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Ladder Capital Corp., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to the terms of the agreement and the company's ability to meet them.

Key Players & Entities

• Ladder Capital Corp. (company) — Registrant
• December 20, 2024 (date) — Date of Earliest Event Reported
• 320 Park Avenue, 15th Floor (location) — Principal executive offices
• New York, New York (location) — Principal executive offices
• 10022 (location) — Zip Code of principal executive offices
• 212-715-3170 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.001 — ich Registered Class A common stock, $0.001 par value LADR New York Stock Exchang
• $725,000,000 — ). The Credit Agreement provides for a $725,000,000 revolving credit facility and includes
• $1,250,000,000 — nts up to an aggregate facility size of $1,250,000,000, subject to certain conditions. The Cr
• $324 million — t "). The Existing Credit Agreement had $324 million of undrawn capacity and terminated on t

Filing Documents

• tm2431556d1_8k.htm (8-K) — 34KB
• tm2431556d1_ex10-1.htm (EX-10.1) — 2043KB
• 0001104659-24-130884.txt ( ) — 2714KB
• ladr-20241220.xsd (EX-101.SCH) — 3KB
• ladr-20241220_lab.xml (EX-101.LAB) — 33KB
• ladr-20241220_pre.xml (EX-101.PRE) — 22KB
• tm2431556d1_8k_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On December 20, 2024 (the " Closing Date "), Ladder Capital Corp (the " Company ") entered into a Credit and Guaranty Agreement (the " Credit Agreement "), with Ladder Capital Finance Holdings LLLP, a Delaware limited liability limited partnership (" Parent "), Ladder Corporate Revolver I LLC, a Delaware limited liability company (" Ladder Corporate Revolver "), Ladder Capital Finance Corporation, a Delaware corporation (" LCFC " and, together with Parent and Ladder Corporate Revolver, the " Borrowers "), certain subsidiaries of Parent, as guarantors, the lenders party thereto from time to time and JPMorgan Chase Bank, N.A. (" JPMorgan "), as Administrative Agent (together with its permitted successors in such capacity, " Administrative Agent ") and as Collateral Agent (together with its permitted successors in such capacity, " Collateral Agent "). The Credit Agreement provides for a $725,000,000 revolving credit facility and includes borrowing capacity available for letters of credit subject to certain sublimits. The Credit Agreement will mature on December 20, 2028, subject to certain conditions and up to two 6-month extensions thereafter at the Borrowers' option. The Credit Agreement also allows the Borrowers to enter into additional incremental revolving commitments up to an aggregate facility size of $1,250,000,000, subject to certain conditions. The Credit Agreement replaces the Amended and Restated Credit and Guaranty Agreement, dated February 26, 2016, by and among Ladder Corporate Revolver, as borrower, Parent, LCFC, the Company and certain subsidiaries of Parent, as guarantors, the lenders party thereto, JPMorgan, as administrative agent and collateral agent (as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, the " Existing Credit Agreement "). The Existing Credit Agreement had $324 million of undrawn capacity and terminated on the Closing Date.

03. Creation of a Direct Financial Obligation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 is incorporated by reference into this Item 2.03.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 10.1 Credit and Guaranty Agreement, dated as of December 20, 2024, by and among Ladder Capital Finance Holdings LLLP, Ladder Corporate Revolver I LLC, Ladder Capital Finance Corporation, Ladder Capital Corp, certain subsidiary guarantors, the lenders party hereto from time to time and JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent. 10.2 Form of Amended Credit Agreement (included in Exhibit 10.1 above). 104 The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LADDER CAPITAL CORP Date: December 20, 2024 By: /s/ Kelly Porcella Name: Kelly Porcella Title: Chief Administrative Officer & General Counsel