Safehold establishes $750M commercial paper note program via operating company

Safehold Inc.

Safehold GL Holdings LLC may issue up to $750M of unsecured short-term notes, guaranteed by Safehold Inc.
Proceeds used for general corporate purposes; program backed by Safehold's $2.0B revolving credit facility.
Company expects cost of capital benefits versus its revolving credit facility; notes rank pari passu with unsecured debt.
Notes offered on a private placement basis, not registered under Securities Act.

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