Lument Finance Trust, Inc. announced that it has entered into a Credit Agreement with Massachusetts Mutual Life Insurance Company as lead lender, Computershare Trust Company, National Association, as loan agent, and Wilmington Trust, National Association (the “Trustee”), as trustee, for the gross proceeds of $386.3 million on July 12, 2023. The senior secured class a loan for $270.4 million, Class B Notes for $30.4 million, Class C Notes for $16.9 million, Class D Notes for $7.7 million, Class E Notes for $15 million, Class F Notes for $10.6 million and Class G Notes for $35.3 million. The Class G Notes do not bear interest.

Any interest generated by the mortgage assets in the collateral pool securing the Class A Loan and the Class B Notes, the Class C Notes, the Class D Notes, the Class E Notes and the Class F Notes that remains after the payment of interest on the Class A Loans and the Secured Notes will be paid to the holder of the Class G Notes. The Class A Loan and each class of Notes will mature at par on the payment date in July, 2032 and notes also matures on July 31, 2032. The Class A Loans and the Notes are redeemable (at the option of and at the direction of the Collateral Manager), in whole but not in part, on any interest payment date on which the aggregate outstanding principal amount of the Class A Loans and the Class B, C and D Notes has been reduced to 10% or less of the aggregate outstanding principal amount of the Class A Loans and the Class B, C and D Notes on the Closing Date.

The Class A Loans and the Notes are redeemable in whole but not in part, on any interest payment date following the occurrence of certain tax events that would make LMF 2023-1 subject to paying U.S. federal income taxes or would make certain payments to or from LMF 2023-1 subject to withholding tax. The Class A Loans and the Notes are redeemable at the option of and at the direction of the holder of a majority of the outstanding Class G Notes, in whole but not in part, on any interest payment date after the end of the non-call period the period from the Closing Date to and including the business day immediately preceding the interest payment date in July 2025.