FBRT subsidiary closes $803M CRE securitization, issues $671M notes

Franklin BSP Realty Trust, Inc.

Issuer BSPRT 2022-FL9 closed $803M CRE loan securitization, sold $671M notes in private placement.
Notes comprise 10 classes (A through J); Class A $423.7M at SOFR+2.296%, Class E $11M at SOFR+5.411%.
Net proceeds to repay borrowings, fund future loans and investments, and general corporate purposes.
Portfolio includes 5 loans and 19 participations at $803M aggregate balance as of June 29, 2022.
Notes mature May 15, 2039; weighted-average lives of Class A Notes expected 3.40 years.

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