TPG RE Finance Trust announced the closing of a new $400 million Senior Secured Term Loan B and a $100 million Revolving Credit Facility, further expanding the company’s diversified financing structure.
The New York-based company said the Term Loan B matures in 2033 and the Revolving Credit Facility matures in 2031. TRTX plans to use the proceeds to repay outstanding indebtedness, partially fund the redemption of its TRTX 2022-FL5 collateralized loan obligation, and support general corporate purposes.
According to the company, the Term Loan B priced at 99.75% and carries interest at Term SOFR plus 275 basis points. The Revolving Credit Facility bears interest at Term SOFR plus 200 basis points.
Doug Bouquard said the transaction marks another step in strengthening the company’s liability structure as it continues to position itself for future growth.
TRTX operates as a commercial real estate finance company focused primarily on originating, acquiring, and managing first mortgage loans backed by institutional properties across major and select secondary markets in the United States. The company is externally managed by TPG RE Finance Trust Management, L.P., which is part of TPG Inc.’s real estate investment platform.
KEY QUOTES:
“We believe that the closing of this financing further expands our best in-class, diversified liability structure at an exciting moment for TRTX.”
Doug Bouquard, Chief Executive Officer, TPG RE Finance Trust
