TPG RE Finance prices second CLO; GC Investment reprices CLO; GSO/Blackstone refinances

By Cristal Cody

Tupelo, Miss., Nov. 29 – TPG RE Finance Trust, Inc. closed Thursday on a new $1 billion commercial real estate CLO in its second transaction of the year.

The CLO placed $795.1 million of investment-grade bonds with third party institutional investors.

“Our second CRE CLO issued this year further contributes to the diversification of our financing sources, as well as our objective of obtaining matched-term funding,” Greta Guggenheim, chief executive officer of TPG RE Finance Trust, said in a news release. “This CRE CLO has enabled us to recycle financings in our current credit facilities and increases our return on equity.”

In other activity, GC Investment Management LLC refinanced $487.15 million of notes from a 2016 middle-market CLO.

GSO/Blackstone Debt Funds Management LLC also refinanced $154 million of notes from a 2016 broadly syndicated CLO.

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