Starwood Property Trust To Offer $500 Million Of Senior Notes

(RTTNews) - Starwood Property Trust, Inc. (STWD), a diversified finance company, on Monday announced an offering of $500 million aggregate principal amount of its unsecured senior notes due 2028 in a private placement.

The company plans to use the net proceeds for general corporate purposes, which may include the repayment of outstanding indebtedness under its repurchase facilities.

The company intends to allocate an amount equal to the net proceeds to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects.

Starwood Property Trust also said that the proceeds allocated to previously incurred costs associated with such projects may be used to repay related indebtedness.

In the pre-market trading, Starwood Property Trust is 0.35% higher on the New York Stock Exchange.