TPG RE Finance Trust Secures $500M Financing

By Bobby Samwell • Friday, May 15 06:29 • Permanent Link

TPG RE Finance Trust said it closed a new $400 million senior secured term loan B due in 2033 and a $100 million revolving credit facility due in 2031.

The term loan was priced at 99.75% and carries interest at term SOFR plus 275 basis points. The revolver carries interest at term SOFR plus 200 basis points.

The company said it plans to use the proceeds to repay outstanding indebtedness, including partial funding for the redemption of its TRTX 2022-FL5 collateralized loan obligation, or for other general corporate purposes.

Chief Executive Doug Bouquard said the financing “further expands” the company’s liability structure. As a result of these announcements, the company's shares have moved -0.12% on the market, and are now trading at a price of $8.31. For more information, read the company's full 8-K submission here.

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