Starwood Property Trust Inc. has commenced a private offering of $300 million aggregate principal amount of its unsecured senior notes due August 2023.

Most of the net proceeds will be used to repay outstanding amounts under the real estate investment trust's existing repurchase agreements. Any remaining proceeds may be used for general corporate purposes, including Starwood's pending acquisition of the energy project finance origination, underwriting and capital markets business of GE Capital Global Holdings LLC.