Floating interest rate

KBRA Assigns Preliminary Ratings to MHP Commercial Mortgage Trust 2021-STOR

Retrieved on: 
Thursday, July 15, 2021

Kroll Bond Rating Agency (KBRA) announces the preliminary assignment of ratings to nine classes of MHP Commercial Mortgage Trust 2021-STOR, a CMBS singe-borrower securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) announces the preliminary assignment of ratings to nine classes of MHP Commercial Mortgage Trust 2021-STOR, a CMBS singe-borrower securitization.
  • The collateral for the transaction is a $468.0 million non-recourse, first lien mortgage loan.
  • The floating rate loan has an initial two-year term with three one-year extension options and requires monthly interest-only payments based on one-month LIBOR.
  • The portfolio properties total 4.0 million sf, inclusive of 678,097 sf of commercial and parking space, with assets ranging from 16,022 sf to 175,750 sf.

KBRA Assigns Preliminary Ratings to PKHL Commercial Mortgage Trust 2021-MF

Retrieved on: 
Wednesday, July 7, 2021

Kroll Bond Rating Agency (KBRA) announces the preliminary assignment of ratings to 10 classes of PKHL Commercial Mortgage Trust 2021-MF, a CMBS singe-borrower securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) announces the preliminary assignment of ratings to 10 classes of PKHL Commercial Mortgage Trust 2021-MF, a CMBS singe-borrower securitization.
  • The collateral for the transaction is a $225.0 million non-recourse, first lien mortgage loan.
  • The floating rate loan has an initial two-year term with three one-year extension options and requires monthly interest-only payments based on one-month LIBOR.
  • As of June 2021, the collateral was 79.6% leased, as one of the buildings is still in its initial lease up.

KBRA Assigns Preliminary Ratings to ESA 2021-ESH

Retrieved on: 
Monday, June 21, 2021

Kroll Bond Rating Agency (KBRA) announces the assignment of preliminary ratings to 11 classes of ESA 2021-ESH, a CMBS single-borrower securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) announces the assignment of preliminary ratings to 11 classes of ESA 2021-ESH, a CMBS single-borrower securitization.
  • The collateral for the transaction is a $4.65 billion non-recourse, first lien mortgage loan.
  • The floating rate loan has an initial two-year term with three one-year extension options and requires monthly interest-only payments based on one-month LIBOR.
  • To access ratings and relevant documents, click here .

KBRA Assigns Preliminary Ratings to ONE 2021-PARK

Retrieved on: 
Monday, February 8, 2021

Kroll Bond Rating Agency (KBRA) announces the preliminary assignment of ratings to six classes of ONE 2021-PARK, a CMBS single-borrower securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) announces the preliminary assignment of ratings to six classes of ONE 2021-PARK, a CMBS single-borrower securitization.
  • The floating rate loan has an initial two-year term with three, one-year extension options, and requires monthly interest-only payments based on one-month LIBOR.
  • The results of our analysis yielded a KBRA net cash flow (KNCF) of approximately $40.0 million.
  • To value the property, we applied a capitalization rate of 7.00% to arrive at a KBRA value of approximately $569.2 million.

KBRA Assigns Preliminary Ratings to ONYP 2020-1NYP

Retrieved on: 
Monday, December 14, 2020

Kroll Bond Rating Agency (KBRA) announces the assignment of preliminary ratings to six classes of ONYP 2020-1NYP, a CMBS single-borrower securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) announces the assignment of preliminary ratings to six classes of ONYP 2020-1NYP, a CMBS single-borrower securitization.
  • The floating rate loan has an initial two-year term with three, one-year extension options, and requires monthly interest-only payments based on one-month LIBOR.
  • The results of our analysis yielded a KBRA net cash flow (KNCF) of approximately $92.1 million.
  • To value the property, we applied a capitalization rate of 6.75% to arrive at a KBRA value of approximately $1.4 billion.

ARMOUR Residential REIT, INC. Announces September 30, 2020 Financial Position And Q3 Results

Retrieved on: 
Wednesday, October 21, 2020

ARMOUR paid monthly cash dividends of $0.10 per share of the Companys common stock for each month in Q3 2020.

Key Points: 
  • ARMOUR paid monthly cash dividends of $0.10 per share of the Companys common stock for each month in Q3 2020.
  • ARMOUR previously announced the October and November common stock dividends of $0.10 per share payable October 29, 2020 and November 27, 2020 to holders of record on October 15, 2020 and November 16, 2020, respectively.
  • ARMOUR paid monthly cash dividends of $0.14583 per share of the Companys Series C Preferred Stock for each month in Q3 2020.
  • ARMOUR invests primarily in fixed rate residential, adjustable rate and hybrid adjustable rate residential mortgage-backed securities issued or guaranteed by U.S.

America First Multifamily Investors, L.P. Announces Issuance of Secured Notes to Mizuho

Retrieved on: 
Wednesday, September 30, 2020

The Notes bear interest at a variable rate equal to the 3-month London Inter-Bank Offered Rate (LIBOR) plus 9.00% payable monthly.

Key Points: 
  • The Notes bear interest at a variable rate equal to the 3-month London Inter-Bank Offered Rate (LIBOR) plus 9.00% payable monthly.
  • Interest due on the Notes and TRS transactions will be paid from receipts related to the Class B Certificates.
  • Concurrent with the issuance of the Notes, the Partnership entered into two Total Return Swap (TRS) transactions with Mizuho.
  • The remaining Notes proceeds of approximately $77.5 million were deposited with Mizuho as collateral for the TRS transactions.

KBRA Assigns Preliminary Ratings to BFLD 2020-EYP

Retrieved on: 
Monday, September 28, 2020

Kroll Bond Rating Agency (KBRA) announces the assignment of preliminary ratings to nine classes of BFLD 2020-EYP, a CMBS single-borrower securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) announces the assignment of preliminary ratings to nine classes of BFLD 2020-EYP, a CMBS single-borrower securitization.
  • The floating rate loan has an initial two-year term with three, one-year extension options, and requires monthly interest-only payments based on one-month LIBOR.
  • The results of our analysis yielded a KBRA net cash flow (KNCF) of approximately $19.3 million.
  • To value the property, we applied a capitalization rate of 7.75% to arrive at a KBRA value of approximately $248.8 million.

HF Foods Secures Lower Fixed Interest Rate on $80 Million of Floating Rate Debt

Retrieved on: 
Monday, June 29, 2020

On June 24, 2020, HF Foods Group entered into an interest rate swap (IRS) contract for the notional amount of $80 million with its current lender, J.P. Morgan Chase.

Key Points: 
  • On June 24, 2020, HF Foods Group entered into an interest rate swap (IRS) contract for the notional amount of $80 million with its current lender, J.P. Morgan Chase.
  • Under the terms of the agreement, $80 million of the Companys floating rate loan portfolio will now be fixed at an interest rate of 0.413% plus the agreed spread from June 30, 2021 to June 30, 2025.
  • The Companys existing term loan of approximately $74.3 million was pegged to a floating rate of 1-month LIBOR (London Interbank Offering Rate) + 1.875% per annum, whereas the revolving line of credit was pegged to 1-month LIBOR + 1.375% per annum.
  • With 14 distribution centers along the U.S. eastern and western seaboards, HF Foods aims to supply the increasing demand for Asian American restaurant cuisine.

Ready Capital National Bridge Team Closes Over $375 Million in 17 States

Retrieved on: 
Friday, February 7, 2020

Ready Capital closed the $4.5 million, non-recourse, floating-rate loan that features a 24-month term, one-extension option, and flexible prepayment.

Key Points: 
  • Ready Capital closed the $4.5 million, non-recourse, floating-rate loan that features a 24-month term, one-extension option, and flexible prepayment.
  • Ready Capital closed the $15.8 million, non-recourse, hybrid rate loan which is pari passu, part-fixed and part-floating rate.
  • Ready Capital closed the $1.1 million, non-recourse, interest only, floating rate loan that features a 24-month term, one extension option, and flexible prepayment.
  • Ready Capital closed the $1.7 million, non-recourse, interest only, floating rate loan that features a 24-month term, one extension option, flexible prepayment.