Safehold Inc. (SAFE): debt financing — Safehold subsidiary prices $300M 6.100% senior notes due 2034; hedge gain lowers effective yield to ~5.32%

Safehold Inc.

Safehold GL Holdings LLC issued $300M of 6.100% senior notes due 2034, guaranteed by Safehold Inc.
Notes priced at 98.957% for effective yield of 6.240%; after $21M hedge gain, effective yield ~5.32%.
Net proceeds to repay borrowings under $1.35B unsecured revolving credit facility and for general corporate purposes.
Notes mature April 1, 2034; interest payable April 1 and October 1, starting October 1, 2024.
Underwriters include J.P. Morgan, BofA Securities, Goldman Sachs, Truist; settlement on March 4, 2024.

item 1.01 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Safehold Inc. incurred senior notes of $300,000,000 at 6.100% per annum maturing April 1, 2034.

Instrument: senior notes
Principal: $300,000,000
Rate: 6.100% per annum
Maturity: April 1, 2034
Event: incurrence

Exact text from the filing

On March 4, 2024, Safehold GL Holdings LLC (the “Issuer”), a Delaware limited liability company and subsidiary of Safehold Inc. (the “Guarantor” or the “Company”), completed an underwritten public offering of $300,000,000 aggregate principal amount of its 6.100% Senior Notes due 2034 (the “Notes”).

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299 debt financings filed in the last 30 days. Browse all debt financings →

Safehold Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-030508

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