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Blackstone Mortgage Trust completes convertible notes offering


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Blackstone Mortgage Trust completes convertible notes offering

Blackstone Mortgage Trust Inc. has completed a public offering of $115.0 million of its 4.375% convertible senior notes due 2022.

The notes include $100.0 million aggregate principal amount initially offered by the company and an additional $15.0 million aggregate principal amount sold pursuant to the underwriter's full exercise of its option to purchase additional notes.

The notes represent an additional offering of such convertible notes, as $287.5 million of them were previously issued. Following consummation of the offering of the notes, the total aggregate principal amount outstanding of the 4.375% convertible senior notes due 2022 was $402.5 million.

Blackstone Mortgage plans to use the net proceeds from the offering 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.

Barclays was the sole book-running manager for the offering.