debt
confidence high
sentiment neutral
materiality 0.50
Starwood Property Trust issues $500M of 5.875% senior notes due 2029
STARWOOD PROPERTY TRUST, INC.
- $500M aggregate principal, 5.875% interest, matures August 15, 2029; interest paid semi-annually.
- Net proceeds to finance green/social projects or redeem $500M of 4.375% notes due 2027.
- Notes are senior unsecured, rank pari passu with existing senior unsecured debt.
- Springing guarantee covenant for domestic subsidiaries if ratings fall below investment grade.
- Optional redemption at make-whole prior to May 15, 2029, then at par; change-of-control put at 101%.