Franklin BSP Realty Trust, Inc. has announced the successful issuance of unsecured senior notes through its operating partnership, FBRT OP LLC. The company has raised $107 million in aggregate principal amount, with $82 million in 8.25% unsecured senior notes due 2030 and $25 million in floating rate unsecured senior notes due 2028, carrying 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, including potentially funding a portion of the purchase price for the recently announced acquisition of Newpoint Holdings JV LLC. Notably, the issuance of the notes was not contingent on the closing of the acquisition.
It's worth mentioning that the notes were offered to qualified institutional buyers and accredited investors under Rule 144A and Regulation D of the Securities Act of 1933, as well as to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.
As of March 31, 2025, Franklin BSP Realty Trust, Inc. had approximately $5.7 billion of assets. For further information, visit www.fbrtreit.com. Following these announcements, the company's shares moved 0.93%, and are now trading at a price of $10.89. If you want to know more, read the company's complete 8-K report here.
