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NexPoint Real Estate gets $86.1 million term loan via Raymond James
By Wendy Van Sickle
Columbus, Ohio, Aug. 5 – NexPoint Real Estate Finance, Inc. entered on July 30 into an unsecured term loan agreement with Raymond James Bank, NA as lender, providing for a loan totaling $86.1 million in two tranches, according to an 8-K filing with the Securities and Exchange Commission.
The first tranche of $21.1 million was made available on July 30. The second tranche of $65 million was made available on Wednesday. As of Wednesday, the first tranche of $21.1 million was repaid in full, and the second tranche of $65 million has been funded.
Each draw matures 10 days after funding. The credit facility bears interest of one-month Libor plus 200 basis points for the first 10 days of any draw period, after which the lender may extend the credit facility at a rate of one-month Libor plus 400 bps, unless the securities required by the credit agreement are delivered and taken as collateral, in which case the rate will remain one-month Libor plus 200 bps.
The real estate investment trust is affiliated with Highland Capital, a Dallas-based investment management firm.
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