Chicago, Dec. 16 – NexPoint Real Estate Finance, Inc. priced a $60 million add-on to its 5.75% senior notes due May 1, 2026 on Thursday, according to a press release and a 424B5 filed with the Securities and Exchange Commission earlier on Thursday.
The additional notes were issued at 102.758 with a yield to maturity of 5.036%.
The notes will be treated as a single class with the $75 million of bonds that priced on April 13, 2021 and settled on April 20, 2021. The original notes were sold at 99.46 to yield 5.875% at a spread of Treasuries plus 504 basis points.
The notes feature a make-whole call at Treasuries plus 50 bps until Feb. 1, 2026 and a par call after that date.
Raymond James & Associates is the bookrunner.
Proceeds will be used to acquire investments.
NexPoint is a commercial mortgage real estate investment trust based in Dallas.
| Issuer: | NexPoint Real Estate Finance, Inc.
|
| Amount: | $60 million
|
| Issue: | Senior notes
|
| Maturity: | May 1, 2026
|
| Bookrunners: | Raymond James & Associates
|
| Coupon: | 5¾%
|
| Price: | 102.758
|
| Yield: | 5.036%
|
| Call features: | Make-whole call at Treasuries plus 50 bps until Feb. 1, 2026; thereafter at par
|
| Trade date: | Dec. 16
|
| Settlement date: | Dec. 20
|
| Distribution: | SEC registered
|
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