STARWOOD PROPERTY TRUST, INC. (STWD): debt financing — Starwood Property Trust closes $600M 7.250% senior notes due 2029

STARWOOD PROPERTY TRUST, INC.

Issued $600M aggregate principal of 7.250% unsecured senior notes maturing April 1, 2029.
Net proceeds allocated to eligible green/social projects or general corporate purposes, including repayment of repurchase facility debt.
Notes are senior unsecured, pari passu with existing and future unsecured debt; subject to springing guarantee and asset coverage covenant requiring unencumbered assets ≥120% of unsecured debt.
Redeemable at make-whole prior to October 1, 2028; on/after at par; change of control offer at 101% of principal.

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

STARWOOD PROPERTY TRUST, INC. incurred senior notes of $600 million aggregate principal amount with The Bank of New York Mellon at 7.250% per year maturing April 1, 2029.

Instrument: senior notes
Principal: $600 million aggregate principal amount
Counterparty: The Bank of New York Mellon
Rate: 7.250% per year
Maturity: April 1, 2029
Event: incurrence

Exact text from the filing

On March 27, 2024, Starwood Property Trust, Inc., a Maryland corporation (the “Company”), closed its private offering of $600 million aggregate principal amount of its 7.250% unsecured senior notes due 2029 (the “Notes”), which priced on March 13, 2024.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

STARWOOD PROPERTY TRUST, INC. entered into Indenture and Senior Notes due 2029 with The Bank of New York Mellon valued at $600,000,000 aggregate principal amount of 7.250% unsecured senior notes due 2029 (effective 2024-03-27).

Action: entry
Agreement: notes offering
Counterparty: The Bank of New York Mellon
Value: $600,000,000 aggregate principal amount of 7.250% unsecured senior notes due 2029
Effective: 2024-03-27

Exact text from the filing

On March 27, 2024, Starwood Property Trust, Inc., a Maryland corporation (the “Company”), closed its private offering of $600 million aggregate principal amount of its 7.250% unsecured senior notes due 2029 (the “Notes”), which priced on March 13, 2024.

View on SEC.gov

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

STARWOOD PROPERTY TRUST, INC. filing history →

Source: SEC EDGAR

accession 0001104659-24-039765

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