Repositioning Repurchase Agreement

By december 16, 2020Geen categorie

We are part of a senior secure credit facility agreement with Bank of America N.A. The current rate is 4.1% and the initial maturity date is September 29, 2020. We are managed externally by our manager, TPG RE Finance Trust Management, L.P., a subsidiary of TPG. TPG manages investments in various asset classes, including private equity, real estate, energy, infrastructure, credit and hedge funds. Our manager manages our investments and day-to-day business and business in accordance with our investment policies and other policies approved and controlled by our Board of Directors. Our manager is responsible, among other things, for the selection, dener or purchase and sale of our portfolio investments, (B) our financing activities and (C) the provision of investment advice. Our manager is also responsible for our day-to-day business and manages (or provokes) these services and activities related to our investments and business and business as appropriate. Our investment decisions are approved by an investment committee of our Director, made up of TPG investment experts, including a senior investment professional from TPG`s real estate investment group. You will find a summary of certain terms of the management agreement between us and our manager (the “management contract”) in Note 10 of our consolidated financial statements in this Form 10-Q. As of September 30, 2018, the company had two secured revolving buyout facilities to finance its CMBS investment activities.

Credit spreads vary depending on the CMBS and the advance price. These secure revolving facilities are back to Holdco at 100%. Represents the net book value of commercial real estate assets sold under a repurchase agreement, including accrued interest plus all funds or assets on deposits to guarantee the reduced redemption obligation of the amount of the repurchase guarantee, including accrued interest. Variable rate liabilities include guaranteed revolving pension funds, priority secured credit facilities, OLC and asset-specific financings. (5) Insured revolving retirement operations include amortization of deferred financing costs related to assets that contributed to the 2018-FL1 TRTX during the period. The Company has entered into an agreement and related amendments (the “10b5-1 Purchase Plan”) with Goldman Sachs -Co. LLC as an agent to purchase up to $35.0 million in shares of our common shares over the entire period from or around August 21, 2017 and ended 12 months later or, if earlier, if earlier , the date on which all the tied capital was depleted. On August 1, 2018, the Board of Directors authorized the Company to extend the remaining capital repurchase period promised in the 10b5-1 purchase plan. No further changes to the terms of the 10b5-1 purchase plan have been approved. Under the amended 10b5-1 purchase plan, the repurchase period has been extended to February 28, 2019 or, in the case of earlier, the date on which the entire capital committed to the 10b5-1 purchase plan has been exhausted.