STWD - Starwood Property Trust plans for $350M convertible notes offering
2023-06-22 09:25:51 ET
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Starwood Property Trust ( NYSE: STWD ) has proposed an underwritten public offering of $350 million in convertible senior notes due 2027, the company said Thursday.
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The underwriters will have a 30-day option to purchase up to $52.5 million in additional notes from the company to cover overallotments, if any.
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The pricing terms of the notes offered were not disclosed.
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The company said it intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects.
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Goldman, Sachs & Co. LLC, J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Barclays Capital Inc., BofA Securities, and Citigroup Global Markets Inc. will serve as the joint book-running managers for the offering.
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Starwood Property Trust plans for $350M convertible notes offering