Ropes & Gray Advised Claros Mortgage Trust, Inc. on $500 Million Secured Term Loan Credit Facility

Ropes & Gray Advised Claros Mortgage Trust, Inc. on $500 Million Secured Term Loan Credit Facility

Ropes & Gray served as lead legal advisor to Claros Mortgage Trust, Inc. (NYSE: “CMTG”) on its $500 million, four-year secured term loan credit facility provided by entities affiliated with HPS Investment Partners, LLC. The transaction was announced on February 2. Proceeds from the financing, together with cash on hand, were used to retire CMTG’s prior $556.2 million term loan facility. In connection with the financing, CMTG also issued 10-year detachable warrants to the lending entities, and aligned select financial covenants across its facilities.

The Ropes & Gray team was led by Daniel Stanco (Partner/ New York), Leonard Klingbaum (Partner/ New York), and Matthew Roose (Partner/ New York) and Nitin Konchady (Partner/ New York), and David Rosenthal (Associate) and Courtney Jones (Associate) and included Ryan Duerring (Partner/ Real Estate), Arek Maczka (Partner/ Finance), Rachel Phillips (Partner/ Capital Markets), and Kristen Winckler (Partner/ Tax), as well as Sara Clevering (Counsel), and John Landzert (Associate), Alexys Ogorek (Associate), Luke Smith (Associate), Jordan Sparks (Associate), Joe Swain (Associate), and Philip Wu (Associate).

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