Starwood REIT selling $300m worth of ‘sustainability’ bonds
Starwood Property Trust has announced its inaugural private offering of sustainability bonds, a $300 million aggregate principal amount of its unsecured senior notes due in 2023.
Proceeds from the private offering are to finance or refinance recently completed or future eligible green and/or social projects. These projects are to meet specific eligibility criteria with emphasis on renewable energy, green buildings and affordable housing.
The REIT intends to use the net proceeds to fund the redemption of the remaining $250 million outstanding principal amount of its 3.625% Senior Notes due 2021 (assuming . . .
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