An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
iStar Launches Offering of $400 Million of Senior Unsecured Notes
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
NEW YORK, Aug. 18, 2020 /PRNewswire/ -- iStar (NYSE: STAR) (the "Company") announced today that it has launched an offering, subject to market and other conditions, of $400 million aggregate principal amount of its Senior Unsecured Notes due 2026. The Company intends to use the net proceeds of the offering, together with cash on hand, to redeem the $400 million aggregate principal amount outstanding of its 5.25% Senior Unsecured Notes due 2022 and to pay related premiums, fees and expenses.
BofA Securities, J.P. Morgan, 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 redemption of the Company's 5.25% Senior Unsecured Notes due 2022 will be made solely pursuant to a redemption notice delivered pursuant to the applicable indenture, and nothing contained in this press release constitutes a notice of redemption of the Company's 5.25% Senior Unsecured Notes due 2022.
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:
BofA Securities NC1-004-03-43 200 North College Street, 3rd Fl. Charlotte, NC 28255-0001 Attn: Prospectus Department dg.prospectus_requests@bofa.com
J.P. Morgan Securities LLC c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 1-866-803-9204
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 1-212-902-1171
iStar Inc. is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on all types of properties. As the founder, investment manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the first publicly traded company to focus on modern ground leases, iStar is helping create a logical new approach to the way real estate is owned and continues to use its historic strengths in finance and net lease to expand this unique platform. Recognized as a consistent innovator in the real estate markets, iStar specializes in identifying and scaling newly discovered opportunities and has completed more than $40 billion of transactions over the past two decades.