Blackstone Mortgage to launch $150 million add-on, repricing Thursday

By Sara Rosenberg

New York, Nov. 6 – Blackstone Mortgage Trust Inc. is set to hold a lender call on Thursday to launch a $150 million add-on term loan B due April 2026 and a repricing of its existing roughly $499 million term loan B due April 2026, according to a market source.

J.P. Morgan Securities LLC is the lead on the deal.

Price talk on the term loan debt is Libor plus 225 basis points with a 0% Libor floor, the source said. The add-on term loan is talked with an original issue discount of 99.75, and the repricing is offered at par.

The term loan debt is getting 101 soft call protection for six months.

The add-on term loan will be used for general corporate purposes, and the repricing will take the existing term loan down from Libor plus 250 bps.

Commitments are due at 5 p.m. ET on Nov. 14, the source added.

Blackstone Mortgage Trust is a New York-based real estate finance company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.