The Firm represented Blackstone Mortgage Trust, Inc. in connection with a Rule 144A/Regulation S offering of $450 million aggregate principal amount of its 6.250% Senior Secured Notes due 2031. The Company intends to use the proceeds from the offering for general corporate purposes, including paying down existing secured indebtedness.
Blackstone Mortgage Trust is a real estate finance company that originates, acquires and manages senior loans and other debt or credit-oriented investments collateralized by or relating to commercial real estate in North America, Europe and Australia. The Company’s portfolio is composed primarily of senior loans secured by high-quality, institutional assets in major markets and sponsored by experienced, well-capitalized real estate investment owners and operators. These investments are financed in a variety of ways, including borrowing under secured credit facilities, issuing collateralized loan obligations, or CLOs, other securitization transactions, syndicating senior loans and/or participations and other forms of asset-level financing, depending on the Company’s view of the most prudent financing option available for each of its investments. The Company is externally managed by BXMT Advisors L.L.C., a subsidiary of Blackstone Inc.
The Simpson Thacher team included Edgar Lewandowski, Matthew Hart, Andrene Loiten and Danielle DiGrazia (Capital Markets); Nancy Mehlman, Benjamin Rippeon, Edward Grais, Jessica Berman and Heesang Yeo (Tax); and David Rubinsky and Pasco Struhs (Executive Compensation and Employee Benefits).