Starwood Property Trust Prices $500M Sustainability Bond Offering at 5.875% Due 2029
STWD is trading near its 52-week low of $16.58 (0.3% above the low).
Summary
Starwood Property Trust priced a $500 million private offering of 5.875% unsecured senior notes due 2029. This follows the company's announcement of the offering earlier today and a $600 million bond offering in May. The company recently reported a decline in Q1 EPS and significant loan foreclosures. The proceeds will primarily finance green and social projects, and also redeem $500 million of existing 4.375% senior notes due 2027. This extends the maturity of a significant portion of debt by two years but at a higher interest rate, impacting future interest expenses. The offering is expected to settle on July 10, 2026.
At the time of this announcement, STWD was trading at $16.63 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $16.58 to $21.05. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: PR Newswire.