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Starwood Property Trust prices private offering of debt

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Starwood Property Trust prices private offering of debt

Starwood Property Trust Inc. priced a private offering of $500 million of its 4.750% unsecured senior notes due March 2025.

The notes priced at 99.249% of the principal amount and the settlement of the offering is expected to occur on Dec. 4, subject to customary closing conditions.

Starwood plans to use all or substantially all of the net proceeds from the offering to repay a portion of the amount outstanding under its existing repurchase agreements, and any remaining net proceeds for other general corporate purposes. These purposes may include the repayment of debt under its warehouse facilities and other debt, the origination and purchase of additional commercial mortgage loans and other target assets and investments, the payment of other liabilities and other working capital needs.