KREF Liquidity and Portfolio Overview
Financing Overview: 76% Non-Mark-To-Market
Diversified financing sources totaling $8.9 billion with $2.7 billion of undrawn capacity
Summary of Outstanding Financing
Leverage Ratios
($ in Millions)
Maximum
Capacity
Outstanding
Face Amount
Weighted Avg. Advance
Coupon (1)
Non-
Rate
MTM
Term Credit Facilities
$2,000
$1,521
+1.9%
64.5%
(2)
Term Lending Agreements
$1,984
$1,406
+1.8%
76.8%
4.1X
2.3x
Warehouse Facility
$500
$0
n/a
n/a
Secured Term Loan
$344
$344
+3.6%
Corporate Revolving
Credit Facility
$610
$110
+2.0%
Debt-To-Equity
Ratio (3)
Total Leverage
(4)
Ratio
Outstanding Financing(5)
Total Debt
$5,437
$3,380
Collateralized Loan
$1,943
$1,943
+1.5%
84.5%
Obligations
Term Loan Facility
$1,000
$566
+1.9%
79.8%
Revolver
Term Credit
Facilities
24%
2%
Collateralized
Loan Obligations
31%
Senior Loan
Asset Specific Financing
$491
$239
+2.9%
82.8%
Interests
3%
Total Leverage
$8,871
$6,128
Asset Specific
4%
Term Lending
Agreements
22%
Secured Term Loan
5%
Term Loan
Facility
Weighted average coupon expressed as spread over Term SOFR
9%
Represents (i) total outstanding debt agreements (excluding non-recourse facilities), and secured term loan, less cash to (ii) total permanent equity, in each case, at period end
Represents (i) total outstanding debt agreements, secured term loan, and collateralized loan obligation, less cash to (ii) total permanent equity, in each case, at period end
Based on outstanding face amount of secured financing, including non-consolidated senior interests, that resulted from non-recourse sales of senior loan interest in loans KREF originated
(1)
(2)
Term credit facilities are marked to credit only and not subject to capital markets mark-to-market provisions
(3)
(5)
KREF
Non-Mark-
to-Market
76%
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