Starwood Property raises conversion rates on 4%, 4.55% convertibles

By Wendy Van Sickle

Columbus, Ohio, June 29 – Starwood Property Trust, Inc. raised the conversion rate of its 4.55% convertible senior notes due 2018 and its 4% convertible senior notes due 2019, according to a notice.

Effective Friday, the conversion rate of the 4.55% notes is 45.6167, up from 45.1313, and that of the 4% notes is 48.4451, up from 47.9958.

The adjustments are a result of the cash dividend paid April 15 and the cash dividend with an ex-dividend date of June 26 to be paid on July 15. The adjustment for the April dividend was deferred and carried forward, as permitted under the note indentures.

Starwood Property Trust is a Greenwich, Conn.-based company that originates, acquires, finances and manages commercial mortgage loans and other commercial real estate debt investments.

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