BXMT prices $450M 7.750% senior secured notes due 2029; also refinances $650M term loan

BLACKSTONE MORTGAGE TRUST, INC.

Issued $450M aggregate principal of 7.750% senior secured notes due December 1, 2029.
Notes priced at 100% of par; interest payable semi-annually beginning June 1, 2025.
Net proceeds used for general corporate purposes, including repaying existing secured debt.
Agreed to refinance $650M of existing term loan B (due April 2026) with new borrowings maturing December 2028.
Offering expected to close December 10, 2024, subject to customary conditions.

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