GREENWICH,
Conn., March 13, 2024 /PRNewswire/ -- Starwood
Property Trust, Inc. (NYSE: STWD) (the "Company") today announced
that it has priced its private offering of $600 million aggregate principal amount of its
7.250% unsecured senior notes due 2029 (the "Notes"), which was
upsized from the previously announced $400
million aggregate principal amount. The Notes priced at
100.0% of the principal amount and the settlement of the offering
is expected to occur on March 27,
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 December 31, 2023, the Company has successfully
deployed over $97 billion of capital
since inception and manages a portfolio of over $27 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, 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.