Reported Earlier, Starwood Property Trust Prices Upsized Private Offering Of $600M 7.250% Unsecured Senior Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
Starwood Property Trust, Inc. (STWD) has successfully priced an upsized private offering of $600 million in 7.250% unsecured senior notes due 2029, increased from an initial $400 million. The notes were priced at their full principal amount, with the settlement expected on March 27, 2024, pending customary closing conditions.
March 14, 2024 | 6:23 am
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Starwood Property Trust's upsized private offering of $600 million in 7.250% unsecured senior notes due 2029 indicates strong investor confidence and financial flexibility.
The upsizing of the offering from $400 million to $600 million suggests a strong demand for Starwood Property Trust's notes, indicating investor confidence in the company's financial health and future prospects. This could lead to a positive short-term impact on STWD's stock price as it reflects the company's ability to raise capital efficiently and possibly use it for growth or debt refinancing, enhancing its financial flexibility.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90