GREENWICH, Conn., Dec. 17,
2024 /PRNewswire/ -- Starwood Property Trust, Inc.
(NYSE: STWD) (the "Company") today announced that it has priced its
private offering of $500 million
aggregate principal amount of its 6.500% unsecured senior notes due
2030 (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 December 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 to repay the Company's $400
million outstanding aggregate principal amount of 3.750%
Senior Notes due 2024 and for general corporate purposes, including
the repayment of outstanding indebtedness under the Company's
secured financing agreements.
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 September
30, 2024, the Company has successfully deployed over
$100 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, 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.
