Starwood Property Trust Inc. has completed an underwritten public offering of 20,470,000 common shares for aggregate net proceeds of $448.1 million and a private offering of $700 million of 5.000% senior unsecured notes due 2021.
The company also closed a $300 million four-year secured term loan and a $100 million four-year secured revolving credit facility. The company's maximum borrowing capacity is now more than $9.3 billion.
Starwood Property Trust will use a portion of the proceeds from the term loan and the issuance of senior notes to repay all of the $653.2 million outstanding under its existing term loan. The remainder of the proceeds will be used for investments in the company's target assets, the payment of liabilities and other working capital needs.