NEW YORK–() – TPG RE Finance Trust, Inc. (NYSE: TRTX) (“TRTX” or the “Company”) today announced that on March 25, 2021, the Company has priced TRTX 2021-FL4, a loan Guaranteed Commercial Real Estate Managed $ 1.25 Billion Bond (“CRE CLO”). The Company has placed $ 1.04 billion in investment grade bonds with institutional investors, providing TRTX with term funding on an unrealized, non-recourse basis. TRTX 2021-FL4 includes a two-year reinvestment period, 83% advance rate, $ 308.9 million “ramp” feature allowing TRTX to contribute loans from its current loan origination pipeline and a weighted average interest rate at issue of LIBOR plus 1.60%, before transaction costs. The transaction is expected to close on March 31, 2021 and is subject to customary closing conditions.

Since January 2018, TRTX has issued four CRE CLOs totaling $ 4.4 billion to steadily increase the proportion of its variable rate first mortgage portfolio financed by non-recourse, non-mark-to-market term liabilities. . After applying the cash proceeds of TRTX 2021-FL4 to the repayment of the related secured credit facilities, the percentage of the Company’s unrealized debt is approximately 84%. Wells Fargo Securities, LLC acted as sole structuring agent, co-lead manager and associate bookrunner. Barclays Capital Inc., BofA Securities, Inc., Goldman Sachs & Co. LLC, JP Morgan Securities LLC and Morgan Stanley & Co. LLC have acted as co-lead managers and associate bookkeepers.

This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal prior to ‘registration or qualification under the securities laws of such state or jurisdiction.

ABOUT TRTX

TPG RE Finance Trust, Inc. is a commercial real estate finance company primarily focused on the granting, acquisition and management of senior mortgages and other commercial real estate related debt securities secured in largely through institutional grade properties located in selected primary and secondary markets. in the USA. The Company is managed externally by TPG RE Finance Trust Management, LP, which is part of TPG Real Estate, which is TPG’s real estate investment platform. For more information on TRTX, visit www.tpgrefinance.com.


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