BrightSpire Capital, Inc. (BRSP) Form 8-K — Oct 21, 2026
BrightSpire Capital closed a new $960 million commercial real estate CLO (BRSP 2026-FL4) on October 16, 2026, issuing eight classes of notes plus preferred shares through Cayman and Delaware subsidiaries, with Class A Notes priced at SOFR + 1.40% and rated AAA by Fitch. The CLO has a 30-month reinvestment period, a 6-month ramp-up period with up to roughly $99.7 million of additional purchasing capacity, and matures in April 2044. Citigroup, Morgan Stanley, Wells Fargo and J.P. Morgan acted as placement agents on the offered notes, while BrightSpire's own subsidiary retained 100% of the junior Class F and G notes and preferred shares.
Key figures
- Debt Amount
- approximately $960 million total securities (sum of note classes and preferred shares per stated principal amounts)
- Class a notes
- 576000000
- Class b notes
- 67200000
- Class c notes
- 51600000
- Class d notes
- 30000000
- Class e notes
- 14400000
- Class f notes
- 34800000
- Class g notes
- 19200000
- Class a spread
- Benchmark + 1.40%
- Notes maturity
- April 2044
- Class a s notes
- 105600000
- Preferred shares
- 61200000
- Ramp up capacity
- 99743891
- Ramp up period months
- 6
- Collateral manager fee
- 0.10% per annum (waived by BrightSpire Capital Advisors)
- Minimum par value test
- 111.36%
- Reinvestment period months
- 30
- Delayed collateral interest
- 43000000
- Minimum interest coverage test
- 120.00%
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.