NEW YORK–(BUSINESS WIRE)–TPG RE Finance Trust, Inc. (“TRTX”) today announced the pricing of its initial public offering of 11,000,000 shares of its common stock at $20.00 per share. Shares of TRTX’s common stock are expected to begin trading on the New York Stock Exchange on July 20, 2017 under the symbol “TRTX,” and the offering is expected to close on July 25, 2017, subject to customary closing conditions. TRTX has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of its common stock at the initial public offering price less the underwriting discount.
TRTX intends to use the net proceeds from the offering to originate and acquire commercial mortgage loans and other commercial real estate-related debt instruments consistent with its investment strategy and investment guidelines described in the registration statement, focusing primarily on floating rate first mortgage loans secured by high quality commercial real estate properties undergoing some form of transition and value creation and located in primary and select secondary markets in the U.S.
The offering is being made through an underwriting group led by BofA Merrill Lynch, Citigroup, Goldman Sachs & Co. LLC and Wells Fargo Securities, who are acting as joint book-running managers for the offering. Deutsche Bank Securities, J. P. Morgan, Morgan Stanley and Barclays are acting as additional book-running managers. TPG Capital BD, LLC and JMP Securities are acting as co-managers.
A registration statement on Form S-11, including a prospectus, relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would…