debt
confidence high
sentiment neutral
materiality 0.60
Safehold prices $400M 5.650% senior notes due 2035; effective yield ~5.09% after $22M hedge gain
Safehold Inc.
- Issued $400M aggregate principal of 5.650% Senior Notes due Jan 15, 2035 at 98.812% of par.
- Effective semi-annual yield to maturity of 5.804%; reduced to ~5.09% after $22M hedge-termination gain.
- Net proceeds to repay revolver, invest in ground leases, and for working capital/commitments.
- Notes fully and unconditionally guaranteed by Safehold Inc. (SAFE); joint book-runners: J.P. Morgan, BofA, Goldman Sachs, Truist.