Granite Point Mortgage Trust Inc. 8-K

What Happened
Granite Point Mortgage Trust Inc. (GPMT) filed an 8-K reporting that it amended two secured repurchase facilities with Morgan Stanley and Citibank. On June 26, 2026, GPMT’s subsidiary GP Commercial MS LLC and Morgan Stanley Bank, N.A. executed an amendment to the Master Repurchase and Securities Contract Agreement and related guaranty. On June 30, 2026, GPMT and its subsidiaries GP Commercial CB LLC and GP Commercial CB SL Sub LLC entered an amendment with Citibank, N.A. The filing also reports creation/modification of a direct financial obligation tied to these facilities.

Key Details

• MS Amendment (dated June 26, 2026)
  • Extends the Morgan Stanley facility termination date to June 28, 2027.
  • Adjusts the facility’s principal payment waterfall mechanics.
  • Modifies the “Unrestricted Cash” and “Minimum Tangible Net Worth” covenants.
• Citibank Amendment (dated June 30, 2026)
  • Modifies the “Unrestricted Cash” and “Minimum Tangible Net Worth” covenants under the Citibank guaranty and related transaction documents.
• The full amendment documents are filed as Exhibit 10.1 (Morgan Stanley) and Exhibit 10.2 (Citibank).

Why It Matters
These amendments change the terms of GPMT’s secured financing arrangements, including covenant levels and the timing/mechanics of principal payments. For investors, that can affect the company’s liquidity profile and its ability to draw or maintain financing under these repurchase facilities. Retail investors should review the filed amendment exhibits to understand the exact covenant thresholds and payment mechanics, as those details can influence credit risk and dividend sustainability.