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Blackstone Mortgage Trust, unit enter credit agreement

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According to Market Intelligence, April 2023


Blackstone Mortgage Trust, unit enter credit agreement

Blackstone MortgageTrust Inc. as borrower and a special-purpose unit as guarantor on April4 entered into a credit agreement with Barclays Bank PLC as administrative agent,sole lead arranger, book runner and sole initial lender.

According to a Form 8-K filed April 8, the agreement providesfor a senior secured revolving loan facility in an aggregate principal amount of$125.0 million, the proceeds of which Blackstone Mortgage Trust expects to use topurchase loans and other eligible assets in accordance with its investment guidelines,as well as for operating expenses and general corporate purposes.

Advances are subject to availability under a specified borrowingbase, and accrue interest at a per-annum pricing rate equal to the sum of an applicablebase rate or eurodollar rate and an applicable margin, in each case dependent onthe applicable type of loan. The initial maturity date of the facility is April4, 2018, and it is subject to two one-year extensions, exercisable at the company'soption.