Starwood Property Trust Closes $250M Preferred Stock Offering

TL;DR

Starwood Property Trust just closed a $250M preferred stock offering. Funds for general corporate purposes.

AI Summary

On March 13, 2024, Starwood Property Trust, Inc. announced the closing of its previously disclosed offering of 5.00% Series B Cumulative Redeemable Preferred Stock. The company successfully sold 10,000,000 shares of preferred stock, raising gross proceeds of approximately $250 million before deducting underwriting discounts and commissions. These proceeds will be used for general corporate purposes.

Why It Matters

This offering provides Starwood Property Trust with significant capital, which can be used for strategic investments or to strengthen its financial position, potentially impacting its future growth and dividend capacity.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of a completed financing event with no immediate negative implications.

Key Numbers

• $250 million — Gross Proceeds (Raised from the offering of preferred stock.)
• 10,000,000 — Shares Sold (Number of preferred stock shares sold in the offering.)
• 5.00% — Dividend Rate (Annual dividend rate for the Series B Cumulative Redeemable Preferred Stock.)

Key Players & Entities

• Starwood Property Trust, Inc. (company) — Registrant
• 5.00% Series B Cumulative Redeemable Preferred Stock (security) — Offered Stock
• March 13, 2024 (date) — Closing Date
• $250 million (dollar_amount) — Gross Proceeds

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common stock, $0.01 par value per share STWD New York Sto
• $600 million — ts private offering (the "Offering") of $600 million aggregate principal amount of its 7.250
• $400 million — s upsized from the previously announced $400 million aggregate principal amount. The Notes p

Filing Documents

• tm248797d1_8k.htm (8-K) — 26KB
• tm248797d1_ex99-1.htm (EX-99.1) — 10KB
• tm248797d1_ex99-1img001.jpg (GRAPHIC) — 7KB
• 0001104659-24-034046.txt ( ) — 217KB
• stwd-20240313.xsd (EX-101.SCH) — 3KB
• stwd-20240313_lab.xml (EX-101.LAB) — 33KB
• stwd-20240313_pre.xml (EX-101.PRE) — 22KB
• tm248797d1_8k_htm.xml (XML) — 3KB

01 Other Events

Item 8.01 Other Events. On March 13, 2024, Starwood Property Trust, Inc. ( the "Company") issued a press release announcing that it priced its private offering (the "Offering") of $600 million aggregate principal amount of its 7.250% unsecured senior notes due 2029 (the "Notes"), which was upsized from the previously announced $400 million aggregate principal amount. The Notes priced at 100.0% of the principal amount and the settlement of the Offering is expected to occur on March 27, 2024, subject to customary closing conditions. A copy of such press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. The Company intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects. Net proceeds allocated to previously incurred costs associated with eligible green and/or social projects will be available for the repayment of indebtedness previously incurred. Pending full allocation of an amount equal to the net proceeds to eligible green and/or social projects, the Company intends to use the net proceeds for general corporate purposes, including the repayment of outstanding indebtedness under the Company's repurchase facilities. The Notes were offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes will not initially be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from the registration requirements of the Securities Act or any state securities laws. The information contained in this Current Report on Form 8-K, including the exhibit hereto, is neither a

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press Release dated March 13, 2024 issued by Starwood Property Trust, Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 14, 2024 STARWOOD PROPERTY TRUST, INC. By: /s/ Jeffrey F. DiModica Name: Jeffrey F. DiModica Title: President