Starwood Property Trust Enters Material Agreement, Incurs Financial Obligation

TL;DR

Starwood Property Trust just signed a big deal and took on debt. Details TBD.

AI Summary

On March 27, 2024, Starwood Property Trust, Inc. entered into a material definitive agreement and incurred a direct financial obligation. The filing does not specify the other party involved or the exact nature of the agreement or obligation, but it is categorized under 'Entry into a Material Definitive Agreement' and 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant'.

Why It Matters

This filing indicates a significant new financial commitment or agreement for Starwood Property Trust, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting potential financial risk or opportunity that is not yet fully disclosed.

Key Players & Entities

• Starwood Property Trust, Inc. (company) — Registrant
• March 27, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common stock, $0.01 par value per share STWD New York Sto
• $600 million — mpany"), closed its private offering of $600 million aggregate principal amount of its 7.250

Filing Documents

• tm249772d1_8k.htm (8-K) — 43KB
• tm249772d1_ex4-1.htm (EX-4.1) — 809KB
• 0001104659-24-039765.txt ( ) — 1186KB
• stwd-20240327.xsd (EX-101.SCH) — 3KB
• stwd-20240327_lab.xml (EX-101.LAB) — 33KB
• stwd-20240327_pre.xml (EX-101.PRE) — 22KB
• tm249772d1_8k_htm.xml (XML) — 3KB

01. Entry into a Material

Item 1.01. Entry into a Material Definitive Agreement. Indenture and Senior Notes due 2029 On March 27, 2024, Starwood Property Trust, Inc., a Maryland corporation (the "Company"), closed its private offering of $600 million aggregate principal amount of its 7.250% unsecured senior notes due 2029 (the "Notes"), which priced on March 13, 2024. The Notes were issued under an indenture, dated as of March 27, 2024 (the "Indenture"), between the Company and The Bank of New York Mellon, as trustee. The Notes were issued in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), to qualified institutional buyers within the United States in accordance with Rule 144A under the Securities Act and to non-U.S. persons in offshore transactions in accordance with Regulation S under the Securities Act. The Notes are subject to restrictions on transfer and may only be offered or sold in transactions exempt from or not subject to the registration requirements of the Securities Act and other applicable securities laws. 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 are senior unsecured obligations of the Company and will mature on April 1, 2029. The Notes bear interest at a rate of 7.250% per year. Interest on the Notes will be paid semi-annually in arrears on each April 1 and October 1, commencing Oct

03. Creation of a Direct Financial Obligation or an Obligation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 is incorporated herein by reference into this Item 2.03.

01.Financial Statements and Exhibits

Item 9.01.Financial Statements and Exhibits. (d)Exhibits Exhibit Number Description 4.1 Indenture, dated as of March 27, 2024, between Starwood Property Trust, Inc. and The Bank of New York Mellon, as trustee (including the form of Starwood Property Trust, Inc.'s 7.250% Senior Notes due 2029). 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 27, 2024 STARWOOD PROPERTY TRUST, INC. By: /s/ Jeffrey F. DiModica Name: Jeffrey F. DiModica Title: President