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July 18, 2024
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Starwood Property Trust plans $400M sustainability bond sale By Investing.com



© Reuters.

GREENWICH, Conn. – Starwood Property Trust, Inc. (NYSE: NYSE:), a finance company with a focus on real estate and infrastructure, disclosed its plans to offer $400 million of unsecured senior notes due 2029 in a private offering, subject to market and other conditions. The offering aims to support the company’s green and social projects, reflecting a growing trend in sustainable finance.

The proceeds from the sale of the notes are designated to fund or refinance a mix of recent or future eligible projects with environmental or social benefits. Until the full allocation of the proceeds to these projects, the company will utilize the funds for general corporate purposes, which may include debt repayment under its repurchase facilities.

The notes are being marketed to qualified institutional buyers based on Rule 144A and to non-U.S. persons outside the United States under Regulation S of the Securities Act of 1933. These securities will not be registered initially and will be subject to restrictions on their sale within the United States in the absence of registration or an exemption from registration requirements.

Starwood Property Trust, affiliated with the global private investment firm Starwood Capital Group, has deployed over $97 billion of capital since its inception and manages a portfolio valued at more than $27 billion. The company’s investment strategy is centered on delivering stable returns to shareholders, mainly through dividends.

The announcement includes the usual cautionary note that the statements looking forward to the offering are based on current expectations and that actual outcomes may differ due to various factors. These factors include but are not limited to changes in economic conditions, borrower defaults, and changes in interest rates.

This news is based on a press release statement from Starwood Property Trust, Inc. and does not constitute an offer to sell the securities mentioned.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.



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