TPG RE Finance Trust, Inc. (TRTX): debt financing — TPG RE Finance Trust closes $1.03B CLO (TRTX 2025-FL6) on $1.1B loan pool

TPG RE Finance Trust, Inc.

Nine classes of notes issued totaling ~$1.03B; Class A $616M at 1.537% over benchmark, ratings AAAsf/Aaa(sf).
Proceeds used to purchase 19 CRE loans/participations (aggregate $1.1B), repay warehouse lines, and fund delayed collateral.
Collateral pool equals 33.5% of the company's loan portfolio as of Dec 31, 2024.
Manager TPG RE Finance Trust Management waived collateral management fee; 30-month reinvestment period.
Press release issued March 31, 2025; notes mature September 2042 unless redeemed earlier.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

TPG RE Finance Trust, Inc. incurred senior notes of $616,000,000 aggregate principal amount of Class A Senior Secured Floating Rate Notes Due 2042 with Wilmington Trust, National Association at (i) the Benchmark plus (ii) 1.53680% plus (iii) on and after the payment date in maturing 2042.

Instrument: senior notes
Principal: $616,000,000 aggregate principal amount of Class A Senior Secured Floating Rate Notes Due 2042
Counterparty: Wilmington Trust, National Association
Rate: (i) the Benchmark plus (ii) 1.53680% plus (iii) on and after the payment date in
Maturity: 2042
Event: incurrence

Exact text from the filing

$616,000,000 aggregate principal amount of Class A Senior Secured Floating Rate Notes Due 2042 (the “FL6 Class A Notes”), which had ratings of “AAAsf” and “Aaa(sf)” by Fitch Ratings, Inc. (“Fitch”) and Moody’s Investors Service, Inc. (“Moody’s”), respectively, and an initial expected weighted average life of 2.95 years, and bear interest at a per annum rate equal to (i) the Benchmark plus (ii) 1.53680% plus (iii) on and after the payment date in April 2031, 0.25%

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

TPG RE Finance Trust, Inc. incurred senior notes of $83,875,000 aggregate principal amount of Class B Third Priority Secured Floating Rate Notes Due 2042 with Wilmington Trust, National Association at (i) the Benchmark plus (ii) 2.04636% plus (iii) on and after the payment date in maturing 2042.

Instrument: senior notes
Principal: $83,875,000 aggregate principal amount of Class B Third Priority Secured Floating Rate Notes Due 2042
Counterparty: Wilmington Trust, National Association
Rate: (i) the Benchmark plus (ii) 2.04636% plus (iii) on and after the payment date in
Maturity: 2042
Event: incurrence

Exact text from the filing

$83,875,000 aggregate principal amount of Class B Third Priority Secured Floating Rate Notes Due 2042 (the “FL6 Class B Notes”), which had a rating of AA-sf by Fitch and an initial expected weighted average life of 4.33 years, and bear interest at a per annum rate equal to (i) the Benchmark plus (ii) 2.04636% plus (iii) on and after the payment date in April 2031, 0.50%

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

TPG RE Finance Trust, Inc. incurred senior notes of $134,750,000 aggregate principal amount of Class A-S Second Priority Secured Floating Rate Notes Due 2042 with Wilmington Trust, National Association at (i) the Benchmark plus (ii) 1.74678% plus (iii) on and after the payment date in maturing 2042.

Instrument: senior notes
Principal: $134,750,000 aggregate principal amount of Class A-S Second Priority Secured Floating Rate Notes Due 2042
Counterparty: Wilmington Trust, National Association
Rate: (i) the Benchmark plus (ii) 1.74678% plus (iii) on and after the payment date in
Maturity: 2042
Event: incurrence

Exact text from the filing

$134,750,000 aggregate principal amount of Class A-S Second Priority Secured Floating Rate Notes Due 2042 (the “FL6 Class A-S Notes”), which had a rating of “AAAsf” by Fitch and an initial expected weighted average life of 3.73 years, and bear interest at a per annum rate equal to (i) the Benchmark plus (ii) 1.74678% plus (iii) on and after the payment date in April 2031, 0.25%

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TPG RE Finance Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-25-070927

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