NexPoint Real Estate Finance, Inc. Announces Pricing of $35 million Offering of 5.75% Senior Unsecured Notes due 2026
Dallas, January 21, 2022 /PRNewswire/ — NexPoint Real Estate Finance, Inc. (NYSE: NREF) (“NREF” or the “Company”) today announced the price of its underwritten public offering for $35 million in aggregate principal amount of its maturing senior unsecured debentures of 5.75% known in 2026 (the “Additional Notes”). The Additional Notes were issued at a price of 100.875% of par with a yield to maturity of 5.514%. The additional debentures are an additional issuance of the Company’s existing debentures $135 million The aggregate principal amount of its 5.75% Senior Unsecured Notes due 2026 (the “Existing Notes”) and the Additional Notes will be issued under the same contract as the Existing Notes and will be treated together with the Existing Notes as a single class of Notes except for the date of issuance and the offer price have the same terms as the existing Notes. The offer is expected to close on or about January 25, 2022, subject to customary closing conditions.
The Company intends to contribute the net proceeds from this Offering to its operating partnership, NexPoint Real Estate Finance Operating Partnership, LP (the “OP”) in exchange for OP Units. The OP intends to use the net proceeds from this offering to acquire several pipeline investments that are expected to be completed in the foreseeable future. These investments consist of multifamily, life sciences and hospitality debt and preferred positions that offer attractive risk-adjusted returns backed by strong, experienced and well-known sponsors.
Raymond James acts as the sole book-running manager for the offering. The Company is making this offer pursuant to an am March 31, 2021. This offering is being made solely by means of a prospectus and prospectus supplement, copies of which are available Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, phone (800) 248-8863, email: [email protected] or through the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to purchase the Additional Notes and does not constitute an offer, solicitation or sale in any state or jurisdiction where such offer, solicitation or sale is permitted would be illegal.
About NexPoint Real Estate Finance, Inc.
NexPoint Real Estate Finance, Inc. is a public REIT with shares listed on the New York Stock Exchange under the symbol “NREF”. NREF is primarily focused on originating, structuring and investing in first mortgage loans, mezzanine loans, preferred stock and alternative structured financings in commercial real estate and commercial multi-family residential mortgage-backed securities.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations, assumptions and beliefs. Forward-looking statements are often identified by words such as “anticipate,” “estimate,” “expect,” “intend,” “may,” “should,” and similar expressions, as well as variations or negatives of these words. These forward-looking statements include, but are not limited to, statements regarding the intended use of the proceeds and the completion of the offering of additional debentures. They are not guarantees of future results and forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those projected in the forward-looking statements, including the ultimate duration and severity of the COVID-19 pandemic , and the effectiveness of measures that have been or may be taken by governmental agencies to contain the outbreak or address its effects, and those more fully described in our filings with the Securities and Exchange Commission (the “SEC”) , particularly those described in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers should not place undue reliance on forward-looking statements and are encouraged to review NREF’s other filings with the SEC for a more complete discussion of the risks and other factors that may affect forward-looking statements. The statements made herein speak only as of the date of this press release and, except as required by law, NREF undertakes no obligation to publicly update or revise any forward-looking statements.
Contact:
NextPoint Real Estate Finance, Inc.
Investor Relations
Jackie Graham
[email protected]
833.463.6697
SOURCE NexPoint Real Estate Finance, Inc.
