Jun. 20 at 10:14 AM
$FBRT Franklin BSP Realty Trust announces issuance of unsecured senior notes
Franklin BSP Realty Trust announced that through its operating partnership, FBRT OP, it has issued, in a private offering,
$107M aggregate principal amount of unsecured senior notes, consisting of
$82M of 8.25% unsecured senior notes due 2030 and
$25M of floating rate unsecured senior notes due 2028, with an initial coupon of approximately 8.33%.
The Fixed Rate Notes will mature on April 25, 2030 and the Floating Rate Notes will mature on April 25, 2028. The Company expects to use the net proceeds from the issuance of the Notes for general corporate purposes, which may include funding a portion of the purchase price for the recently announced acquisition of NewPoint Holdings JV. There is no guarantee such acquisition will close, and the issuance of the Notes was not contingent on the closing of such acquisition.
