BXMT · Blackstone Mortgage Trust, Inc.

Blackstone Mortgage Trust, Inc. (BXMT) has executed a definitive purchase agreement with Citigroup Global Markets Inc. as representative of the initial purchasers for a $450 million private placement of senior secured notes. This financing provides the company with significant new capital at a fixed 6.250% coupon, maturing in June 2031, strengthening its capital structure through unsubordinated secured guarantees from key subsidiaries including those under its term loan credit agreement. The issuance at par reflects favorable market reception for BXMT's credit profile as a real estate finance company externally managed by BXMT Advisors L.L.C. Key investor considerations include the use of proceeds primarily to repay existing secured debt, potentially improving leverage metrics and liquidity for ongoing origination and management of commercial real estate loans across North America, Europe, and Australia. The transaction is conditioned on standard closing requirements and carries customary representations, warranties, indemnification, and termination rights. Notably, certain initial purchasers or affiliates hold positions in BXMT's existing debt facilities and may benefit from partial repayment. While subject to completion risks highlighted in forward-looking disclaimers, this move supports BXMT's objective of preserving shareholder capital and generating current income through dividends.