trending Market Intelligence /marketintelligence/en/news-insights/trending/bTWXlsl-Z6td9nIKxPRUyA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Blackstone Mortgage Trust prices convertible debt offering

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory


Blackstone Mortgage Trust prices convertible debt offering

Blackstone Mortgage Trust Inc. announced the pricing of an underwritten public offering of $100.0 million of its 4.375% convertible senior notes due 2022.

This is an additional offering of such convertible notes, as $287.5 million of them were previously issued. The additional notes will be consolidated with the previously issued notes.

The offering is subject to customary closing conditions and is expected to close Aug. 11.

The offering is expected to generate gross proceeds of approximately $100.0 million, or $115.0 million if the underwriter exercises its overallotment option. Blackstone Mortgage intends to use the net proceeds to originate and purchase additional commercial mortgage loans and other target assets and investments, and for working capital and other general corporate purposes, including repayment of debt.

The notes will pay interest semiannually at an annual rate of 4.375% and will mature May 5, 2022. They will have an initial conversion rate of 28.0324 shares of the company's class A common stock per $1,000 principal amount of the notes. The initial conversion rate is subject to adjustment upon the occurrence of certain events.

The notes will be convertible only upon certain circumstances and during certain periods prior to Feb. 1, 2022. After that, they will be convertible at any time prior to the close of business on the second scheduled trading day prior to maturity.

Barclays is acting as sole book-running manager for the offering.