Business Context and Reporting Period
Company: KKR Real Estate Finance Trust Inc. (KREF)
Filing Type: Form 8-K (Current Report)
Date of Report: August 23, 2022
Reporting Period: Specific event date (August 23, 2022)
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity metrics. It focuses exclusively on a specific financing transaction.
| Metric | Value |
|---|---|
| Facility Type | Master Repurchase Agreement |
| Previous Facility Amount | $750 million |
| New Facility Amount | $1 billion |
| Counterparty | MUFG Bank, Ltd. |
Material Changes
On August 23, 2022, the company entered into a Second Omnibus Amendment and Reaffirmation Agreement regarding its existing Master Repurchase Agreement dated July 27, 2021. The primary material change is the increase of the aggregate facility amount from $750 million to $1 billion.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future performance, or specific risk factors beyond the creation of a direct financial obligation. The transaction involves wholly-owned subsidiaries (KREF Lending IX LLC, KREF Holdings IX LLC, and KKR Real Estate Finance Holdings L.P.) and is reported under Item 2.03 as the creation of a direct financial obligation.
Investor Verification Checklist
- Verify the terms and interest rates associated with the expanded $1 billion repurchase facility.
- Confirm the collateral requirements and covenants within the amended Master Repurchase Agreement.
- Review the impact of this increased leverage on the company's overall debt-to-equity ratio in subsequent quarterly reports.
- Check for any related party transactions or specific conditions attached to the MUFG Bank, Ltd. agreement.