Starwood Property to price $500 million 7.25-year bullet on Monday

By Paul A. Harris

Portland, Ore., Nov. 27 – Starwood Property Trust, Inc. plans to price $500 million of senior bullet notes in a quick-to-market Monday trade, according to a market source.

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Barclays, BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are managing the Rule 144A and Regulation S deal.

The Greenwich, Conn.-based commercial mortgage real estate investment trust plans to use the proceeds to pay down existing repurchase agreements, with any remaining net proceeds for other general corporate purposes, which may include debt repayment under its warehouse facilities and other debt, the origination and purchase of additional commercial mortgage loans and other target assets and investments, payment of other liabilities and other working capital needs.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.