GREENWICH, Conn. - Starwood Property Trust, Inc. (NYSE: NYSE:STWD), a real estate finance company, has upscaled its private offering to $600 million in unsecured senior notes at a 7.250% interest rate, maturing in 2029. The offering, initially set at $400 million, was priced at par and is expected to close on March 27, 2024, subject to standard closing conditions.
The company plans to use the proceeds to fund or refinance green and social projects, with any amount allocated to already completed projects being used to repay existing debt. Until the full allocation to these projects, the funds will serve general corporate needs, including debt repayment under the company's repurchase agreements.
These notes are available to qualified institutional buyers in the U.S. and to non-U.S. persons internationally under specific regulations. They are not registered under the Securities Act or state securities laws and cannot be sold in the U.S. without registration or an exemption.
Starwood Property Trust, part of Starwood Capital Group, focuses on real estate and infrastructure investments. As of December 31, 2023, the company has deployed over $97 billion in capital and manages a portfolio exceeding $27 billion.
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