UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 1.01. | Entry into a Material Definitive Agreement. |
MM-1 Second Amendment to Loan and Servicing Agreement
On March 4, 2022, FS CREIT Finance MM-1 LLC, or MM-1, an indirect wholly owned special-purpose financing subsidiary of FS Credit Real Estate Income Trust, Inc., or the Company, entered into the Second Amendment to Loan and Servicing Agreement, or Second Amendment to Loan and Servicing Agreement, amending the Loan and Servicing Agreement dated September 20, 2021, with MM-1, as the borrower and portfolio asset servicer, FS CREIT Finance Holdings LLC, Wells Fargo Bank, National Association, as the administrative agent and the collateral custodian, Massachusetts Mutual Life Insurance Company, or Mass Mutual, and the other lenders from time to time party thereto, and Mass Mutual as the facility servicer.
The Second Amendment to Loan and Servicing Agreement provides for, among other things: (i) an increase to the committed amount from $250 million to $500 million and (ii) a decrease of the interest rate spread from 210 basis points to 205 basis points per annum. This follows the First Amendment to Loan and Servicing Agreement dated February 23, 2022, pursuant to which the committed amount was increased from $200 million to $250 million under the accordion feature provided under the original Loan and Servicing Agreement, prior to the amendments described herein.
The material terms of the Loan and Servicing Agreement described above are qualified in their entirety by the agreement attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information contained in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
| Item 9.01. | Financial Statements and Exhibits. |
| EXHIBIT |
DESCRIPTION | |
| 10.1 | Second Amendment to Loan and Servicing Agreement, dated as of March 4, 2022, by and among FS CREIT Finance MM-1 LLC, Massachusetts Mutual Life Insurance Company and the other lenders from time to time, Wells Fargo Bank, National Association, and FS CREIT Finance Holdings, LLC. | |
| 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.
| FS Credit Real Estate Income Trust, Inc. | ||||||
| Date: March 7, 2022 | By: | /s/ Stephen S. Sypherd | ||||
| Stephen S. Sypherd | ||||||
| Vice President, Treasurer and Secretary | ||||||