Starwood Property Trust, Inc. Prices its Private Offering of $400 Million Aggregate Principal Amount of its 3.750% Unsecured Senior Notes Due 2024
December 01, 2021 at 04:15 pm EST
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Starwood Property Trust, Inc. announced that it has priced its private offering of $400 million aggregate principal amount of its 3.750% unsecured senior notes due 2024. The Notes priced at 100.00% of the principal amount and the settlement of the offering is expected to occur on December 15, 2021, subject to customary closing conditions. The company intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects. Net proceeds allocated to previously incurred costs associated with eligible green and/or social projects will be available for the repayment of indebtedness previously incurred. Pending full allocation of an amount equal to the net proceeds to eligible green and/or social projects, the company intends to use the net proceeds to fund the repayment at par of its 5.00% senior notes due December 2021 and for general corporate purposes, including the repayment of outstanding indebtedness under the company's repurchase facilities.
Starwood Property Trust, Inc. is a real estate investment trust. The Company's segments include Commercial and Residential Lending, Infrastructure Lending, Property, and Investing and Servicing. Commercial and Residential Lending segment is engaged in originating, acquiring, financing and managing commercial first mortgages, non-agency residential mortgages, subordinated mortgages, mezzanine loans, preferred equity, commercial mortgage-backed securities, residential mortgage-backed securities and other real estate and real estate-related debt investments in the United States, Europe and Australia. Infrastructure Lending segment is engaged in originating, acquiring, financing and managing infrastructure debt investments. Property segment is engaged primarily in acquiring and managing equity interests in stabilized commercial real estate properties. Investing and Servicing segment includes a servicing business in the United States; an investment business, and a mortgage loan business.