SEC Filing Summary: New Residential Investment Corp. (8-K)
Business Context and Reporting Period
This Current Report on Form 8-K was filed by New Residential Investment Corp. on June 3, 2016, reporting an event that occurred on May 27, 2016. The filing concerns the Company's entry into a material definitive agreement regarding its debt financing structure.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, or liquidity figures. The primary financial metric disclosed is a modification to the cost of debt:
- Interest Margin Reduction: Certain interest margins on the Series 2015-VF1 variable funding notes were lowered by 0.05% per annum.
- Debt Term Extension: The revolving period for the variable funding notes was extended to May 26, 2017.
Material Changes
The material change reported is the execution of Amendment No. 4 to the Series 2015-VF1 Indenture Supplement. This amendment modifies the terms of the notes issued by NRZ Advance Receivables Trust 2015-ON1. The changes include the extension of the revolving period and the reduction of interest margins, along with related conforming changes.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or specific risk factors beyond the standard disclosure of the agreement amendment. No unusual items or contingencies are described in this report.
Investor Verification Checklist
- Verify the total outstanding principal balance of the Series 2015-VF1 Notes to quantify the annual savings from the 0.05% margin reduction.
- Confirm the impact of the revolving period extension on the Company's liquidity runway and refinancing schedule.
- Review the full text of Amendment No. 4 (Exhibit 4.1) for any covenants or conditions not summarized in the 8-K.