Blackstone Mortgage Trust launched a private placement of $450 million aggregate principal amount of 6.250% senior secured notes maturing in 2031, sold exclusively to qualified institutional buyers and non-U.S. investors. The notes carry a fixed coupon of 6.25% per annum and are secured by a portfolio of commercial real estate-related assets.

Net proceeds from the offering will be deployed for general corporate purposes, with a primary focus on reducing existing secured indebtedness to enhance balance sheet flexibility and optimize capital structure.

The offering relies on exemptions under Rule 144A and Regulation S and is expected to close on May 19, 2026, subject to customary closing conditions including satisfaction of collateral and guarantee requirements.