Loan & DebtJun 30, 2026, 04:22 PM
Granite Point Extends Morgan Stanley Facility, Amends Covenants
AI Summary
Granite Point Mortgage Trust Inc. amended its repurchase facilities with Morgan Stanley and Citibank. The Morgan Stanley facility's termination date was extended to June 28, 2027, and its principal payment waterfall mechanics were adjusted. Both facilities also had their "Unrestricted Cash" and "Minimum Tangible Net Worth" financial covenants modified.
Key Highlights
- Morgan Stanley repurchase facility termination date extended to June 28, 2027.
- Morgan Stanley facility's Unrestricted Cash covenant set to $20,000,000.
- Morgan Stanley facility's Minimum Tangible Net Worth covenant set to $450,000,000.
- Citibank facility's Unrestricted Cash covenant set to greater of $20,000,000 or 5% of Recourse Indebtedness.
- Citibank facility's Minimum Tangible Net Worth covenant set to $450,000,000.
- Morgan Stanley facility's principal payment waterfall mechanics were adjusted.
Price Impact
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