GREENWICH, Conn., Sept. 26,
2024 /PRNewswire/ -- Starwood Property Trust, Inc.
(NYSE: STWD) (the "Company") today announced that it has priced its
private offering of $400 million
aggregate principal amount of its 6.000% unsecured senior notes due
2030 (the "Notes"). The Notes priced at 100.0% of the principal
amount and the settlement of the offering is expected to occur on
October 10, 2024, 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 for general corporate purposes, including the
repayment of outstanding indebtedness under the Company's
repurchase facilities.
The Notes were offered only to persons reasonably believed to be
qualified institutional buyers in reliance on Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act"), and
non-U.S. persons outside the United
States pursuant to Regulation S under the Securities Act.
The Notes will not initially be registered under the Securities Act
or any state securities laws and may not be offered or sold in
the United States absent an
effective registration statement or an applicable exemption from
the registration requirements of the Securities Act or any state
securities laws.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Starwood Property Trust,
Inc.
Starwood Property Trust, Inc. (NYSE: STWD), an affiliate of
global private investment firm Starwood Capital Group, is a leading
diversified finance company with a core focus on the real estate
and infrastructure sectors. As of June 30,
2024, the Company has successfully deployed over
$98 billion of capital since
inception and manages a portfolio of $26
billion across debt and equity investments. Starwood
Property Trust's investment objective is to generate attractive and
stable returns for shareholders, primarily through dividends, by
leveraging a premiere global organization to identify and execute
on the best risk adjusted returning investments across its target
assets.
Forward-Looking Statements
Statements in this press release which are not historical fact
may be deemed forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Securities
Exchange Act of 1934, as amended, including statements with respect
to the anticipated settlement of the offering and the use of
proceeds. Although the Company believes the expectations reflected
in any forward-looking statements are based on reasonable
assumptions, it can give no assurance that its expectations will be
attained. Factors that could cause actual results to differ
materially from the Company's expectations include: (i) factors
described in the Company's Annual Report on Form 10-K for the year
ended December 31, 2023 and its
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024 and June
30, 2024, including those set forth under the captions "Risk
Factors", "Business", and "Management's Discussion and Analysis of
Financial Condition and Results of Operations"; (ii) defaults by
borrowers in paying debt service on outstanding indebtedness; (iii)
impairment in the value of real estate property securing the
Company's loans or in which the Company invests; (iv) availability
of mortgage origination and acquisition opportunities acceptable to
the Company; (v) potential mismatches in the timing of asset
repayments and the maturity of the associated financing agreements;
(vi) the Company's ability to achieve the benefits that it
anticipates from the prior acquisition of the project finance
origination, underwriting and capital markets business of GE
Capital Global Holdings, LLC; (vii) national and local economic and
business conditions, including as a result of the impact of public
health emergencies; (viii) the occurrence of certain geo-political
events (such as wars, terrorist attacks and tensions between
states) that affect the normal and peaceful course of international
relations; (ix) general and local commercial and residential real
estate property conditions; (x) changes in federal government
policies; (xi) changes in federal, state and local governmental
laws and regulations; (xii) increased competition from entities
engaged in mortgage lending and securities investing activities;
(xiii) changes in interest rates; and (xiv) the availability of,
and costs associated with, sources of liquidity.
Contact:
Zachary Tanenbaum
Starwood Property Trust
Phone: 203-422-7788
Email: ztanenbaum@starwood.com
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SOURCE Starwood Property Trust, Inc.