Granite+Point+Mortgage+Trust+Inc.(NYSE: GPMT) (“GPMT,” “Granite Point” or the “Company”) today announced that it refinanced approximately $590 million of senior loans that had been previously financed through two of the Company’s legacy funding vehicles, GPMT 2018-FL1 CRE CLO and its term financing facility with Goldman Sachs, both of which had been significantly de-levered through loan repayments. These transactions generated approximately $180 million in net proceeds to the Company after repaying approximately $232 million of borrowings outstanding under those two legacy facilities. The Company today used a portion of the net proceeds to repay an additional $50 million of the remaining $100 million principal amount outstanding under its senior secured term loan facilities.
Granite Point Mortgage Trust Inc. Announces $590 million Refinancing of Legacy Funding Vehicles, Incremental $50 million Repayment of Term Loan Borrowings and Preliminary Financial Results for First Quarter 2022
Apr 28, 2022
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