iStar Announces Pricing of $100 Million of Senior Unsecured Notes

NEW YORK, Nov. 26, 2019 /PRNewswire/ -- iStar Inc. STAR (the "Company") announced today that it has agreed to sell $100 million aggregate principal amount of its 4.75% Senior Unsecured Notes due October 2024 at a price of 102%. The sales price represents a yield to maturity of 4.29%. The notes offered will be issued as additional notes under the indenture pursuant to which the Company previously issued $675 million aggregate principal amount of its 4.75% Senior Unsecured Notes due October 2024 on September 16, 2019. The closing of the offering of the senior unsecured notes is expected to occur on November 29, 2019, subject to customary conditions. The Company intends to use the net proceeds of the offering for general corporate purposes.

J.P. Morgan, BofA Securities, Barclays, Morgan Stanley, and Goldman Sachs & Co. LLC are the joint book-running managers for the offering. The notes will be issued pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (the "SEC").

This press release does not constitute an offer to sell or the solicitation of an offer to buy the offered notes, nor shall there be any sale of the notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

The notes will be offered by means of the preliminary prospectus supplement and accompanying prospectus for the offering. Electronic copies of the preliminary prospectus supplement and accompanying prospectus for the offering may be obtained for free by searching the SEC online database (EDGAR) on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus for the offering may be obtained by contacting the joint book-running managers at the following addresses or telephone numbers:

J.P. Morgan

383 Madison Avenue, 3rd Floor

New York, NY 10179

Attn: Syndicate Desk

hy_syndicate@restricted.chase.com

1-800-245-8812 (toll free)

BofA Securities

NC1-004-03-43

200 North College Street, 3rd Fl.

Charlotte, NC 28255-0001

Attn: Prospectus Department

dg.prospectus_requests@bofa.com





Barclays Capital Inc.

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, NY 11717

barclaysprospectus@broadridge.com

1-888-603-5847 (toll-free)

Morgan Stanley & Co. LLC

180 Varick Street, 2nd Floor

New York, NY 10014

Attn: Prospectus Department

prospectus@morganstanley.com  

1-866-718-1649





Goldman Sachs & Co. LLC

200 West Street

New York, NY 10282

Attn: Prospectus Department

Prospectus-NY@ny.email.gs.com 

1-866-471-2526



*     *     *

iStar logo. (PRNewsFoto/iStar Financial Inc.) (PRNewsfoto/iStar)

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/istar-announces-pricing-of-100-million-of-senior-unsecured-notes-300965860.html

SOURCE iStar Inc.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: OfferingsPress ReleasesBanking/Financial Services
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!