Franklin BSP Realty Trust Inc. has announced the successful issuance of $107 million in unsecured senior notes through its operating partnership, FBRT OP LLC. The issuance consists of two tranches: $82 million of 8.25% Fixed Rate Notes due April 25, 2030, and $25 million of Floating Rate Notes with an initial coupon of approximately 8.33% due April 25, 2028. The Notes were offered in a private placement to qualified institutional buyers and accredited investors, and they will not initially be registered under the Securities Act or any state securities laws. The company plans to use the net proceeds 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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