debt
confidence high
sentiment neutral
materiality 0.60
Starwood Property Trust closes $400M 6.000% senior notes due 2030
STARWOOD PROPERTY TRUST, INC.
- $400M aggregate principal of 6.000% unsecured senior notes due April 15, 2030; interest semi-annual beginning April 15, 2025.
- Net proceeds allocated to eligible green/social projects or general corporate purposes, including repaying repurchase facility debt.
- Notes are senior unsecured, pari passu with other senior unsecured debt; springing guarantee covenant requires certain domestic subsidiaries to guarantee under conditions.
- Optional redemption: make-whole prior to Oct 15, 2029; up to 40% equity clawback at 106% before Oct 15, 2027.
- Change of control triggering event requires repurchase at 101% of principal plus accrued interest.