TRTX closes $1.0B FL8 CLO with $931.25M notes and $68.75M preferred shares

TPG RE Finance Trust, Inc.

FL8 CLO issued $931.25M aggregate principal amount of notes across Classes A through G, including $600M AAA-rated Class A notes at Benchmark + 1.35%.
Collateral is 3 commercial real estate whole loans plus 17 participations/A-Notes totaling about $1.0B, roughly 23.1% of TRTX's loan portfolio as of June 30, 2026.
Proceeds repay pre-closing warehouse lines and fund collateral; TRTX affiliates retained Classes D through G notes and all 68,750 preferred shares ($1,000/share liquidation preference).
Notes mature March 2044, pay monthly from October 2026; FL8 has a 30-month reinvestment period and collateral manager waived its 0.1% annual fee.

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