Blackstone Mortgage Trust Announces Closing Of Public Offering Of Convertible Senior Notes And Full Exercise Of Underwriter's Over-Allotment Option

NEW YORK, Aug. 11, 2017 /PRNewswire/ -- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) (the "Company") today announced the closing of its underwritten public offering of its 4.375% convertible senior notes due 2022 (the "Notes"), which priced on August 8, 2017. A total of $115.0 million aggregate principal amount of the Notes was sold, comprised of $100.0 million aggregate principal amount initially offered and an additional $15.0 million aggregate principal amount sold pursuant to the underwriter's full exercise of its option to purchase additional Notes. The issuance of the Notes closed on August 11, 2017.

The Notes represent an additional issuance of the Company's 4.375% convertible senior notes due 2022, of which $287.5 million in aggregate principal amount were previously issued. The Notes have the same CUSIP as, and are consolidated, form a single series and are fully fungible with, such previously issued notes. Following consummation of the offering of the Notes, the total aggregate principal amount outstanding of the 4.375% convertible senior notes due 2022 of the Company outstanding is $402.5 million.

The Company intends to use the net proceeds from the offering to originate and purchase additional commercial mortgage loans and other target assets and investments consistent with its investment strategies and investment guidelines, and for working capital and other general corporate purposes, including repayment of indebtedness.

Barclays acted as sole book-running manager for the offering.

The offering was made pursuant to the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC").

The offering of these securities was made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained by contacting Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 888-603-5847, email: [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Blackstone Mortgage Trust
Blackstone Mortgage Trust (NYSE: BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America and Europe. Our investment objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns primarily through dividends generated from current income from our loan portfolio. We are externally managed by BXMT Advisors L.L.C., a subsidiary of Blackstone.

About Blackstone
Blackstone (NYSE: BX) is one of the world's leading investment firms. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies it invests in, and the communities in which it works. Blackstone does this by using extraordinary people and flexible capital to help companies solve problems. Blackstone's asset management businesses, with over $370 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis.

Forward-looking Statements and Other Matters
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can identify these forward-looking statements by the use of words such as "outlook," "indicator," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company believes these factors include but are not limited to those described under the section entitled "Risk Factors" in its Annual Report on Form 10-K for the fiscal year ended December 31, 2016, as such factors may be updated from time to time in its periodic filings with the SEC which are accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the filings. The Company assumes no obligation to update or supplement forward‐looking statements that become untrue because of subsequent events or circumstances.

SOURCE Blackstone Mortgage Trust, Inc.

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