Sunrise Realty Trust Announces the Successful Closing of a Senior Revolving Credit Facility up to $200 Million with an Initial $50 Million Commitment from East West Bank
Sunrise Realty Trust (SUNS) has secured a new senior secured revolving credit facility with East West Bank, providing access up to $200 million in borrowing capacity. The facility includes an initial commitment of $50 million with an interest rate of SOFR plus 2.75% (subject to a SOFR floor of 2.63%). This financing arrangement enhances SUNS' ability to pursue strategic growth initiatives and investment opportunities across the Southern United States. East West Bank, with over $74.5 billion in assets, serves as both agent and initial lender for the facility.
Sunrise Realty Trust (SUNS) ha ottenuto una nuova linea di credito rotativa senior garantita con East West Bank, offrendo accesso fino a 200 milioni di dollari in capacità di prestito. La linea include un impegno iniziale di 50 milioni di dollari con un tasso di interesse pari a SOFR più 2,75% (soggetto a un floor SOFR del 2,63%). Questo accordo di finanziamento migliora la capacità di SUNS di perseguire iniziative di crescita strategiche e opportunità di investimento nel sud degli Stati Uniti. East West Bank, con oltre 74,5 miliardi di dollari in attivi, funge da agente e prestatore iniziale per la linea.
Sunrise Realty Trust (SUNS) ha asegurado una nueva línea de crédito rotativa senior garantizada con East West Bank, brindando acceso de hasta 200 millones de dólares en capacidad de préstamo. La instalación incluye un compromiso inicial de 50 millones de dólares con una tasa de interés de SOFR más 2.75% (sujeta a un suelo SOFR del 2.63%). Este arreglo de financiamiento mejora la capacidad de SUNS para perseguir iniciativas de crecimiento estratégico y oportunidades de inversión en el sur de los Estados Unidos. East West Bank, con más de 74.5 mil millones de dólares en activos, actúa como agente y prestamista inicial para la instalación.
선라이즈 리얼티 트러스트 (SUNS)가 이스트 웨스트 은행과 함께 새로운 고위험 보장 회전 신용 시설을 확보하여 2억 달러까지 대출 가능성을 제공합니다. 이 시설은 5천만 달러의 초기 약정을 포함하고 있으며, SOFR 플러스 2.75%의 이자율이 적용됩니다(최소 SOFR 2.63% 기준). 이번 자금조달 arrangement는 SUNS가 미국 남부 전역에서 전략적 성장 이니셔티브와 투자 기회를 추구할 수 있는 능력을 강화합니다. 74.5억 달러 이상의 자산을 보유한 이스트 웨스트 은행은 해당 시설의 에이전트이자 초기 대출기관으로 역할을 합니다.
Sunrise Realty Trust (SUNS) a sécurisé une nouvelle facilité de crédit renouvelable senior garantie avec East West Bank, offrant un accès jusqu'à 200 millions de dollars en capacité d'emprunt. La facilité comprend un engagement initial de 50 millions de dollars avec un taux d'intérêt de SOFR plus 2,75 % (sous réserve d'un plancher SOFR de 2,63 %). Cet arrangement financier renforce la capacité de SUNS à poursuivre des initiatives de croissance stratégique et des opportunités d'investissement dans le sud des États-Unis. East West Bank, avec plus de 74,5 milliards de dollars d'actifs, agit à la fois en tant qu'agent et prêteur initial pour la facilité.
Sunrise Realty Trust (SUNS) hat eine neue senior gesicherte revolvierende Kreditfazilität mit East West Bank gesichert, die den Zugang zu bis zu 200 Millionen US-Dollar an Kreditmöglichkeiten bietet. Die Fazilität umfasst ein anfängliches Engagement von 50 Millionen US-Dollar zu einem Zinssatz von SOFR plus 2,75 % (unterliegt einem SOFR-Boden von 2,63 %). Diese Finanzierungsvereinbarung verbessert die Fähigkeit von SUNS, strategische Wachstumsinitiativen und Investitionsmöglichkeiten im Süden der Vereinigten Staaten zu verfolgen. East West Bank, die über 74,5 Milliarden US-Dollar an Vermögenswerten verfügt, fungiert sowohl als Agent als auch als ursprünglicher Kreditgeber für die Fazilität.
- Secured new revolving credit facility with up to $200M borrowing capacity
- Initial commitment of $50M with competitive interest rate (SOFR + 2.75%)
- Flexible structure allowing borrowing and repayment as needed
- Enhanced financial flexibility for strategic growth initiatives
- None.
Insights
This credit facility marks a significant financial development for SUNS, providing substantial leverage potential relative to its
The pricing terms are notably competitive at SOFR +
This facility could be transformative for SUNS' growth trajectory in the Southern US real estate market, potentially enabling faster portfolio expansion and improved returns through strategic leverage.
WEST PALM BEACH, Fla., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Sunrise Realty Trust, Inc. (Nasdaq: SUNS) (“SUNS” or the “Company”) today announced the successful closing of a new senior secured revolving credit facility with East West Bank serving as agent and the initial lender (the “Revolving Credit Facility”). The Revolving Credit Facility provides access up to
East West Bank, headquartered in Pasadena, California, is a leading financial institution with over
"Closing this credit facility with East West Bank is an important milestone for SUNS. With an initial
About Sunrise Realty Trust, Inc.
Sunrise Realty Trust, Inc. (Nasdaq: SUNS) is an institutional commercial real estate lender providing flexible financing solutions to sponsors of commercial real estate located in the Southern United States. We focus on transitional commercial real estate business plans with opportunities for near-term value creation, collateralized by top-tier real property assets in established Southern cities and Southern cities presenting strong growth fundamentals. For additional information regarding the Company, please visit www.sunriserealtytrust.com.
About East West Bank
East West provides financial services that help customers reach further and connect to new opportunities. East West Bancorp, Inc. is a public company (Nasdaq: “EWBC”) with total assets of
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the Company’s current views and projections. All statements other than statements of historical fact are forward-looking statements. The Company’s forward-looking statements are generally accompanied by words such as “intend,” “will,” “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “potential,” “plan,” “goal” or other words that convey the uncertainty of future events or outcomes. Forward-looking statements contained in this press release speak only as of the date of this press release. The Company disclaims any obligation to update these statements unless required by law, and the Company cautions you not to rely on them unduly. The Company has based these forward-looking statements on its current expectations and assumptions about future events, which the Company considers reasonable. However, these forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and beyond the Company’s control. Certain factors, risks and uncertainties discussed under the caption “Risk Factors” and elsewhere in the Company’s registration statement on Form 10, available on the SEC’s website, could cause actual results and performance to differ materially from those set forth in or implied by such forward-looking statements.
Investor Relations Contact:
Robyn Tannenbaum
561-510-2293
ir@sunriserealtytrust.com
Media Contact:
Profile Advisors
Rich Myers & Rachel Goun
347-774-1125
rmyers@profileadvisors.com
FAQ
What is the maximum borrowing capacity of Sunrise Realty Trust's (SUNS) new credit facility?
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Who is the lending institution for SUNS' new revolving credit facility?
