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BXMT > SEC Filings for BXMT > Form 8-K on 7-Jul-2016All Recent SEC Filings

Show all filings for BLACKSTONE MORTGAGE TRUST, INC.

Form 8-K for BLACKSTONE MORTGAGE TRUST, INC.


7-Jul-2016

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Definitive Agreement.

Amendment No. 5 to Amended and Restated Master Repurchase and Securities Contract

On June 30, 2016, Blackstone Mortgage Trust, Inc. (the "Company") and a special purpose wholly-owned subsidiary of the Company entered into Amendment No. 5 ("Amendment No. 5") to the Amended and Restated Master Repurchase and Securities Contract with Wells Fargo Bank, National Association ("Wells Fargo") that was originally entered into on April 4, 2014 (as amended by Amendment No. 1 thereto dated as of October 23, 2014, Amendment No. 2 thereto dated as of March 13, 2015, Amendment No. 3 thereto dated as of April 14, 2015, Amendment No. 4 thereto dated as of March 11, 2016 and Amendment No. 5, the "Repurchase Facility"), in order to, among other things, increase the facility amount from $1.0 billion to $2.0 billion and to link certain cross-collateralization and cross-default provisions of the Repurchase Facility with the Acquisition Facility (as defined below).

Fourth Amended and Restated Master Repurchase and Securities Contract

In addition, on June 30, 2016, certain special purpose wholly-owned subsidiaries of the Company and Wells Fargo entered into a Fourth Amended and Restated Master Repurchase and Securities Contract (as amended and restated, the "Acquisition Facility") that amended and restated the Third Amended and Restated Master Repurchase and Securities Contract, dated as of June 30, 2015 (as amended by Amendment No. 1 thereto dated as of July 10, 2015, Amendment No. 2 thereto dated as of October 1, 2015 and Amendment No. 3 thereto dated as of November 12, 2015), in order to, among other things, increase the facility amount for U.S. dollar borrowings by $125.0 million and to link certain cross-collateralization and cross-default provisions of the Acquisition Facility with the Repurchase Facility.

The Acquisition Facility was originally entered into in connection with the Company's acquisition of a portfolio of commercial mortgage loans from General Electric Capital Corporation and certain of its affiliates (the "Loan Portfolio") that was completed on June 23, 2015. The increase in the facility amount of the Acquisition Facility is designed to provide for additional advances that may be made by the Company in connection with modifications and upsizes of loans in the Loan Portfolio. As of June 30, 2016, the Acquisition Facility provided for $2.8 billion of financing, of which $2.6 billion was outstanding and an additional $212.7 million was available to finance future loan fundings.

Wells Fargo or its affiliates have provided, and may in the future provide, certain commercial banking, financial advisory, investment banking and other services in the ordinary course of business for the Company, its subsidiaries and certain of its affiliates, for which they receive customary fees and commissions.


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