FBRT Issues $107M Unsecured Senior Notes

By Philip Seaworth • Saturday, June 21 15:20 • Permanent Link

Franklin BSP Realty Trust, Inc. has announced the successful issuance of unsecured senior notes through its operating partnership, FBRT OP LLC. The private offering amounted to $107 million, comprising $82 million of 8.25% unsecured senior notes due 2030 and $25 million of floating rate unsecured senior notes due 2028, with an initial coupon of approximately 8.33%.

The net proceeds from the issuance of the notes are expected to be used for general corporate purposes, possibly including funding a portion of the purchase price for the recently announced acquisition of Newpoint Holdings JV LLC.

As of March 31, 2025, FBRT had approximately $5.7 billion of assets. The company is externally managed by Benefit Street Partners L.L.C., a wholly owned subsidiary of Franklin Resources, Inc.

This announcement indicates a significant financial move for FBRT, with the issuance of unsecured senior notes providing a substantial influx of capital for potential corporate activities. Following these announcements, the company's shares moved 0.93%, and are now trading at a price of $10.89. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.