BXMT completes $300M offering of 5.50% Convertible Senior Notes due 2027

BLACKSTONE MORTGAGE TRUST, INC.

$300M aggregate principal of 5.50% convertible notes due March 2027; initial conversion price ~$36.27 per share.
Net proceeds of ~$293.5M after underwriting discounts and estimated offering expenses.
Underwriters granted 30-day option to purchase up to $45M additional notes to cover overallotments.
Notes are senior unsecured, ranking equally with existing 4.375% and 4.75% convertible notes.
Interest payable semi-annually on March 15 and September 15, commencing September 15, 2022.

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