Blackstone Mortgage Trust, Inc. (NYSE: BXMT) has announced the commencement of a private offering of $450 million in aggregate principal amount of senior secured notes due 2029. The company plans to utilize the net 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 investment objective is to preserve and protect shareholder capital while generating attractive risk-adjusted returns primarily through dividends from its loan portfolio.
As of the announcement, Blackstone Mortgage Trust's portfolio primarily consists 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.
Blackstone Mortgage Trust is externally managed by BXMT Advisors L.L.C., a subsidiary of Blackstone, which is recognized as the world's largest alternative asset manager with over $1.1 trillion in assets under management. Blackstone's global investment strategies encompass real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries, and hedge funds.
The offering of the notes and the related guarantees will be made in a private transaction in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended, in the United States only to qualified institutional buyers or outside the United States pursuant to Regulation S under the Securities Act.
This press release serves as a notice issued pursuant to and in accordance with Rule 135c under the Securities Act. However, it does not constitute an offer to sell or a solicitation of an offer to buy, and there shall be no sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The market has reacted to these announcements by moving the company's shares -0.9% to a price of $18.77. Check out the company's full 8-K submission here.
