Blackstone Mortgage Trust Completes $450 Million Senior Secured Notes Offering
12.17.24
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The Firm represented Blackstone Mortgage Trust, Inc. (NYSE: BXMT) in connection with a Rule 144A/Regulation S offering of $450 million aggregate principal amount of its 7.750% Senior Secured Notes due 2029. The Company intends to use the proceeds from the offering for general corporate purposes, including paying down existing secured indebtedness.
Blackstone Mortgage Trust is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe and Australia. The Company’s objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns primarily through dividends generated from current income from its loan portfolio. The Company’s portfolio is composed primarily of loans secured by high-quality, institutional assets in major markets, sponsored by experienced, well-capitalized real estate investment owners and operators. These senior loans are capitalized by accessing a variety of financing options, depending on the Company’s view of the most prudent strategy available for each of its investments. The Company is externally managed by BXMT Advisors L.L.C., a subsidiary of Blackstone Inc.
The Simpson Thacher team included Edgar Lewandowski, Ben Carson, Melissa Lewis and Rebecca Carroll (Capital Markets); Nancy Mehlman, Edward Grais and Tova Pfeffer (Tax); and David Rubinsky and Pasco Struhs (Executive Compensation and Employee Benefits).