Business Context and Reporting Period
Company: Chimera Investment Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: June 12, 2008
Event: Entry into a Material Definitive Agreement (Amendment No. 1 to Master Repurchase Agreement).
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, or liquidity figures. Regarding debt and borrowing:
- Outstanding Borrowings: The Company has no borrowings outstanding under the Master Repurchase Agreement facility with Credit Suisse First Boston Mortgage Capital LLC.
- Covenant Status: The amendment eases a financial covenant for the period from January 1, 2008, to March 31, 2008.
Material Changes
The primary material change is the execution of Amendment No. 1 to the Master Repurchase Agreement dated January 18, 2008. This amendment modifies the terms of the facility by easing a financial covenant applicable to the first quarter of 2008. There is no indication of new debt issuance or changes to the principal amount of the facility in this report.
Guidance, Outlook, and Risks
Management Commentary: The filing contains no forward-looking guidance, outlook, or general management commentary beyond the description of the agreement amendment.
Risks and Contingencies: The filing does not explicitly list new risks or contingencies, though the amendment implies prior covenant pressure that has now been alleviated for the specified period.
Unusual Items: None reported in this filing.
Investor Verification Checklist
- Verify the specific terms of the eased financial covenant in Exhibit 10.1 (Amendment No. 1).
- Confirm the Company's current leverage ratios and liquidity position in the most recent 10-Q or 10-K, as this 8-K does not provide updated financial statements.
- Review the original Master Repurchase Agreement (filed January 24, 2008) to understand the baseline covenant requirements prior to the amendment.