Blackstone Mortgage Trust, Inc. (NYSE: BXMT) announced it has commenced a private offering of $450 million in aggregate principal amount of senior secured notes due 2031.

The real estate finance company stated it intends to use the net proceeds for general corporate purposes, including paying down existing secured indebtedness, according to a press release statement.

The offering will be conducted as a private transaction under an exemption from Securities Act of 1933 registration requirements. In the United States, the notes will be offered only to qualified institutional buyers as defined in Rule 144A. Outside the United States, the offering will proceed pursuant to Regulation S under the Securities Act.

The notes and related guarantees have not been registered under the Securities Act or securities laws of any other jurisdiction. They may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

Blackstone Mortgage Trust operates as a real estate finance company that originates, acquires and manages senior loans and other debt investments collateralized by commercial real estate in North America, Europe, and Australia. The company is externally managed by BXMT Advisors L.L.C., a subsidiary of Blackstone.

Blackstone manages over $1.3 trillion in assets under management across various investment strategies including real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds.