Starwood Property Trust Announces Upsizing and Pricing of Private Offering of Sustainability Bonds
Starwood Property Trust (NYSE: STWD) has successfully priced a private offering of $500 million in sustainability bonds, upsized from the initially announced $400 million. The 6.500% unsecured senior notes, due 2030, priced at 100.0% of the principal amount, with settlement expected on December 27, 2024.
The company plans to use the net proceeds to finance or refinance eligible green and/or social projects. Initially, funds will be directed towards repaying the company's $400 million 3.750% Senior Notes due 2024 and for general corporate purposes, including repayment of outstanding indebtedness under secured financing agreements.
The Notes are exclusively offered to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act, and will not be initially registered under the Securities Act or state securities laws.
Starwood Property Trust (NYSE: STWD) ha concluso con successo la valutazione di un'offerta privata di 500 milioni di dollari in obbligazioni sostenibili, aumentata rispetto ai 400 milioni inizialmente annunciati. Le note senior non garantite al 6,500%, in scadenza nel 2030, sono state valutate al 100,0% dell'importo nominale, con regolamento previsto per il 27 dicembre 2024.
L'azienda prevede di utilizzare i proventi netti per finanziare o rifinanziare progetti verdi e/o sociali idonei. Inizialmente, i fondi saranno destinati al rimborso delle note senior da 400 milioni di dollari al 3,750% in scadenza nel 2024 e per scopi aziendali generali, inclusi il rimborso di debiti in essere ai sensi di accordi di finanziamento garantiti.
Le note sono offerte esclusivamente a compratori istituzionali qualificati ai sensi della Regola 144A e a soggetti non americani ai sensi della Regolamentazione S della Securities Act, e non saranno inizialmente registrate ai sensi della Securities Act o delle leggi statali sui titoli.
Starwood Property Trust (NYSE: STWD) ha fijado con éxito el precio de una oferta privada de 500 millones de dólares en bonos de sostenibilidad, ampliada desde los 400 millones inicialmente anunciados. Las notas senior no garantizadas al 6,500%, con vencimiento en 2030, se fijaron al 100,0% del monto principal, con liquidación esperada para el 27 de diciembre de 2024.
La empresa planea utilizar los ingresos netos para financiar o refinanciar proyectos verdes y/o sociales elegibles. Inicialmente, los fondos se destinarán al reembolso de las notas senior de 400 millones de dólares al 3,750% que vencen en 2024 y para fines corporativos generales, incluyendo el reembolso de deudas pendientes bajo acuerdos de financiamiento garantizados.
Las notas se ofrecen exclusivamente a compradores institucionales calificados bajo la Regla 144A y a personas no estadounidenses bajo la Regulación S de la Securities Act, y no se registrarán inicialmente bajo la Securities Act o las leyes estatales de valores.
스타우드 프라퍼티 트러스트 (NYSE: STWD)는 지속 가능성 채권의 사모 발행을 성공적으로 가격 책정하여 5억 달러로 늘렸습니다. 이는 원래 발표된 4억 달러에서 증가한 수치입니다. 2030년 만기인 6.500% 무보증 선순위 노트는 원금의 100.0%에 가격이 책정되었으며, 정산은 2024년 12월 27일로 예정되어 있습니다.
회사는 순수익을 사용하여 적격한 녹색 및/또는 사회 프로젝트에 대한 자금을 조달하거나 재조달할 계획입니다. 초기에는 2024년 만기되는 4억 달러 규모의 3.750% 선순위 노트 상환 및 보장된 금융 계약에 따라 미지급 부채 상환을 포함한 일반 기업 목적으로 자금이 사용될 것입니다.
본 노트는 144A 규정에 따른 자격 있는 기관 투자자와 미국이 아닌 개인에게만 제공되며, 최초로 증권법 또는 주 증권법에 등록되지 않을 것입니다.
Starwood Property Trust (NYSE: STWD) a réussi à fixer le prix d'une offre privée de 500 millions de dollars en obligations durables, augmentée par rapport aux 400 millions initialement annoncés. Les billets seniors non garantis à 6,500%, arrivant à échéance en 2030, ont été évalués à 100,0% du montant principal, avec un règlement prévu pour le 27 décembre 2024.
La société prévoit d'utiliser le produit net pour financer ou refinancer des projets verts et/ou sociaux éligibles. Initialement, les fonds seront dirigés vers le remboursement des billets seniors de 400 millions de dollars à 3,750% arrivant à échéance en 2024 et pour des fins corporatives générales, y compris le remboursement des dettes en cours selon des accords de financement garantis.
Les billets sont offerts exclusivement à des acheteurs institutionnels qualifiés conformément à la règle 144A et à des personnes non américaines selon la réglementation S de la loi sur les valeurs mobilières, et ne seront pas initialement enregistrés conformément à la loi sur les valeurs mobilières ou aux lois étatiques sur les valeurs mobilières.
Starwood Property Trust (NYSE: STWD) hat erfolgreich eine Privatplatzierung von 500 Millionen Dollar in Nachhaltigkeitsanleihen bepreist, die von den ursprünglich angekündigten 400 Millionen aufgestockt wurde. Die 6,500% unbesicherten Senior Notes mit Fälligkeit im Jahr 2030 wurden zu 100,0% des Nennbetrags bepreist, mit einer Abwicklung, die am 27. Dezember 2024 erwartet wird.
Das Unternehmen plant, die Nettoerlöse zur Finanzierung oder Refinanzierung von geeigneten grünen und/oder sozialen Projekten zu verwenden. Zunächst werden die Mittel verwendet, um die 400 Millionen Dollar 3,750% Senior Notes mit Fälligkeit 2024 zurückzuzahlen und für allgemeine Unternehmenszwecke, einschließlich der Rückzahlung von ausstehenden Verbindlichkeiten aus gesicherten Finanzierungsvereinbarungen.
Die Notes werden ausschließlich an qualifizierte institutionelle Käufer gemäß Regel 144A und nicht-US-Personen gemäß Regelung S des Securities Act angeboten und werden nicht zunächst unter dem Securities Act oder den Staatswertpapiergesetzen registriert.
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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 to repay the Company's
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-
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 September 30, 2024, the Company has successfully deployed over
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, June 30, 2024 and September 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.
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