Franklin BSP Realty Trust Inc. (FBRT) announced that through its operating partnership, FBRT OP LLC, it has successfully issued, in a private offering, $107 million aggregate principal amount of unsecured senior notes.
The notes consists of $82 million of 8.25% unsecured senior notes due 2030 and $25 million 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 LLC.
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