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NRF Holdco to settle future exchanges of 5.375% notes by cash
By William Gullotti
Buffalo, N.Y., March 2 – NRF Holdco, LLC, formerly NorthStar Realty Finance Corp., announced it irrevocably elected to settle all future exchanges of its 5.375% exchangeable senior notes due 2033 via cash on Feb. 28, according to a press release on Wednesday.
Per the terms of the notes, the company will satisfy its exchange obligation in cash for each $1,000 aggregate principal amount of notes.
The election was precipitated by a change-of-control event triggered when the company was purchased from DigitalBridge Operating Co., LLC by CWP Bidco LP on Sept. 6, 2021.
The REIT is a wholly owned subsidiary of Delaware-based CWP Bidco.
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