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GREENWICH, Conn. – Starwood Property Trust, Inc. (NYSE:), a real estate finance company, has increased its private offering to $600 million in senior unsecured notes with an interest rate of 7.250% and a maturity date of 2029. Initially priced at $400 million, the transaction is 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 finance or refinance green and social projects, while amounts allocated to already completed projects will be used to repay existing debt. Until fully allocated to these projects, the funds will support general corporate needs, including debt repayments under the company's repurchase agreements.
These notes are available to qualified institutional buyers in the United States and non-U.S. persons abroad, subject to certain regulations. They are not registered under the Securities Act or any state securities laws and may not be sold in the United States 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 firm has committed over $97 billion of his capital and manages a portfolio of over $27 billion.
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