NEW YORK, Dec. 21, 2017 /PRNewswire/ -- Blackstone
Mortgage Trust, Inc. (NYSE: BXMT) (the "Company") today announced
the closing of BXMT 2017-FL1, a $1
billion Collateralized Loan Obligation ("CLO"), which is the
largest commercial real estate CLO issued post financial crisis.
The CLO transaction finances pari passu participation interests in
31 of BXMT's portfolio loans at an effective advance rate of 81.75%
with a weighted average coupon at issuance of L+1.21%. Proceeds
from the CLO issuance were used to repay BXMT credit
facilities.
Steve Plavin, President and CEO
of BXMT, said, "The closing of BXMT 2017 FL-1 represents a
significant expansion of our credit capacity and a further
diversification of our funding sources. The innovative structural
features enabled market leading efficiency while preserving our
flexibility as a balance sheet lender. The scale and quality of our
loan portfolio uniquely positioned us to execute this highly
attractive financing."
Wells Fargo Securities acted as sole structuring agent. Wells
Fargo Securities, Citigroup and BofA Merrill Lynch acted as co-lead
managers and joint bookrunners. Société Générale acted as
co-manager.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any 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.
About Blackstone Mortgage Trust
Blackstone Mortgage
Trust (NYSE: BXMT) is a real estate finance company that originates
senior loans collateralized by commercial real estate in
North America and Europe. Our investment objective is to
preserve and protect shareholder capital while producing attractive
risk-adjusted returns primarily through dividends generated from
current income from our loan portfolio. We are externally managed
by BXMT Advisors L.L.C., a subsidiary of Blackstone.
About Blackstone
Blackstone (NYSE: BX) is one of the
world's leading investment firms. Blackstone seeks to create
positive economic impact and long-term value for its investors, the
companies it invests in, and the communities in which it works.
Blackstone does this by using extraordinary people and flexible
capital to help companies solve problems. Blackstone's asset
management businesses, with over $385
billion in assets under management, include investment
vehicles focused on private equity, real estate, public debt and
equity, non-investment grade credit, real assets and secondary
funds, all on a global basis.
Forward-Looking Statements and Other Matters
This
press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
You can identify these forward-looking statements by the use of
words such as "outlook," "indicator," "believes," "expects,"
"potential," "continues," "may," "will," "should," "seeks,"
"predicts," "intends," "plans," "estimates," "anticipates" or the
negative version of these words or other comparable words. Such
forward-looking statements are subject to various risks and
uncertainties. Accordingly, there are or will be important factors
that could cause actual outcomes or results to differ materially
from those indicated in these statements. The Company believes
these factors include but are not limited to those described under
the section entitled "Risk Factors" in its Annual Report on Form
10-K for the fiscal year ended December 31,
2016, as such factors may be updated from time to time in
its periodic filings with the SEC which are accessible on the SEC's
website at www.sec.gov. These factors should not be construed as
exhaustive and should be read in conjunction with the other
cautionary statements that are included in this release and in the
filings. The Company assumes no obligation to update or supplement
forward‐looking statements that become untrue because of subsequent
events or circumstances.
View original
content:http://www.prnewswire.com/news-releases/blackstone-mortgage-trust-announces-closing-of-1-billion-commercial-real-estate-clo-300574771.html
SOURCE Blackstone Mortgage Trust, Inc.