Starwood Property Trust, Inc. (NYSE: STWD) has announced the pricing of its private offering of $400 million aggregate principal amount of its 6.000% unsecured senior notes due 2030. The notes were priced at 100.0% of the principal amount, and the settlement of the offering is expected to occur on October 10, 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 previously incurred indebtedness.
As of June 30, 2024, the company has successfully deployed over $98 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 premier global organization to identify and execute the best risk-adjusted returning investments across its target assets. Following these announcements, the company's shares moved 0.5%, and are now trading at a price of $20.81. For more information, read the company's full 8-K submission here.