Franklin BSP Real Estate Debt Inc.

08/05/2025 | Press release | Distributed by Public on 08/05/2025 13:05

Material Agreement, Financial Obligation (Form 8-K)
Item 1.01. Entry into a Material Definitive Agreement.
The information set forth under Item 2.03 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 1.01.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Wells Fargo Master Repurchase Agreements
On July 30, 2025, Franklin BSP Real Estate Debt, Inc. (the "Company"), through its indirect wholly-owned subsidiary FBRED REIT WWH Seller, LLC ("Seller"), entered into a Master Repurchase Agreement (the "MRA") with Wells Fargo Bank, National Association ("Wells Fargo"). The MRA provides up to $150 million of advances. The initial maturity date of the MRA is July 30, 2027, which may be extended for up to three years at the Seller's option.
In connection with the MRA, the Company entered into a Guarantee Agreement, dated as of July 30, 2025 (the "Guarantee Agreement") under which the Company agreed to guarantee certain obligations of Seller under the MRA.
The MRA and the Guarantee Agreement contain representations, warranties, covenants, conditions precedent to funding, events of default and indemnities that are customary for agreements of this type. In addition, the Guarantee Agreement requires the Guarantor to satisfy certain financial (including minimum net worth) requirements.
The description of the MRA and Guarantee Agreement above is a summary and is qualified in its entirety by the terms of the MRA and Guarantee Agreement which will be filed as exhibits to the Company's Form 10-Q for the quarter ended June 30, 2025.
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