Starwood Property Trust (NYSE: STWD) sells $600M sustainability notes to refinance 2026 debt
Rhea-AI Filing Summary
Starwood Property Trust, Inc. is issuing $600 million of 6.125% unsecured senior notes due 2031 in a private offering priced at 100% of principal, with settlement expected on May 26, 2026, subject to customary closing conditions.
The company intends to allocate an amount equal to the net proceeds to eligible green and/or social projects, including financing or refinancing recent and future initiatives. Until fully allocated, it plans to use the net proceeds to redeem or repay $400 million of its 3.625% Senior Notes due 2026 and for general corporate purposes, including repurchase facility debt.
The notes are being offered to qualified institutional buyers under Rule 144A and to certain non‑U.S. investors under Regulation S and will not be registered under U.S. securities laws. As of March 31, 2026, Starwood Property Trust had deployed over $117 billion of capital and managed a portfolio of more than $31 billion across debt and equity investments.
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Insights
Starwood raises $600M sustainability notes, refinances 2026 debt and earmarks funds for green and social projects.
Starwood Property Trust is tapping private debt markets with $600 million of 6.125% unsecured senior notes due 2031, priced at par. This extends its debt maturity profile while labeling the issuance as sustainability bonds tied to green and social project financing.
The company plans to use an amount equal to the net proceeds to finance or refinance eligible green and/or social projects, and initially to redeem or repay $400 million of 3.625% Senior Notes due 2026 and other indebtedness. This shifts part of its capital structure from shorter‑dated, lower‑coupon debt to longer‑dated, higher‑coupon notes.
The notes are sold to institutional investors under Rule 144A and Regulation S and will remain unregistered, which is typical for this market. As of March 31, 2026, Starwood managed over $31 billion in assets and had deployed more than $117 billion of capital, so this transaction is meaningful but not transformational relative to its overall scale.
8-K Event Classification
Key Figures
Key Terms
sustainability bonds financial
unsecured senior notes financial
Rule 144A regulatory
Regulation S regulatory
eligible green and/or social projects financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
On May 11, 2026, Starwood Property Trust, Inc. (the “Company”) issued a press release announcing that it priced its private offering of $600 million aggregate principal amount of its 6.125% unsecured senior notes due 2031 (the “Notes”). The Notes priced at 100.0% of the principal amount and the settlement of the offering is expected to occur on May 26, 2026, subject to customary closing conditions. A copy of such press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
The Company intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects. Net proceeds allocated to previously incurred costs associated with eligible green and/or social projects will be available for the repayment of indebtedness previously incurred. Pending full allocation of an amount equal to the net proceeds to eligible green and/or social projects, the Company intends to use the net proceeds to redeem or repay the Company’s $400 million outstanding aggregate principal amount of 3.625% Senior Notes due 2026 and for general corporate purposes, including the repayment of outstanding indebtedness under the Company’s repurchase facilities.
The Notes were offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from the registration requirements of the Securities Act or any state securities laws.
This Current Report on Form 8-K does not constitute a notice of redemption for the 3.625% Senior Notes due 2026. The information contained in this Current Report on Form 8-K, including the exhibit hereto, is neither an offer to sell nor a solicitation of an offer to purchase any of the Notes or any other securities.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit Number |
Description | |
| 99.1 | Press Release dated May 11, 2026 issued by Starwood Property Trust, Inc. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: May 11, 2026 | STARWOOD PROPERTY TRUST, INC. | |
| By: | /s/ Jeffrey F. DiModica | |
| Name: | Jeffrey F. DiModica | |
| Title: | President | |
Exhibit 99.1
Starwood Property Trust Announces Pricing of Private Offering of Sustainability Bonds
MIAMI BEACH, FL, May 11, 2026/PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) (the “Company”) today announced that it has priced its private offering of $600 million aggregate principal amount of its 6.125% unsecured senior notes due 2031 (the “Notes”). The Notes priced at 100.0% of the principal amount and the settlement of the offering is expected to occur on May 26, 2026, subject to customary closing conditions.
The Company intends to allocate an amount equal to the net proceeds from the offering to finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects. Net proceeds allocated to previously incurred costs associated with eligible green and/or social projects will be available for the repayment of indebtedness previously incurred. Pending full allocation of an amount equal to the net proceeds to eligible green and/or social projects, the Company intends to use the net proceeds to redeem or repay the Company’s $400 million outstanding aggregate principal amount of 3.625% Senior Notes due 2026 and for general corporate purposes, including the repayment of outstanding indebtedness under the Company’s repurchase facilities.
The Notes were offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from the registration requirements of the Securities Act or any state securities laws.
This press release does not constitute a notice of redemption for the 3.625% Senior Notes due 2026. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or 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 jurisdiction.
About Starwood Property Trust, Inc.
Starwood Property Trust (NYSE: STWD), an affiliate of global private investment firm Starwood Capital Group, is a leading diversified finance company with a core focus on the real estate and infrastructure sectors. As of March 31, 2026, the Company has successfully deployed over $117 billion of capital since inception and manages a portfolio of over $31 billion across debt and equity investments. Starwood Property Trust’s investment objective is to generate attractive and stable returns for shareholders, primarily through dividends, by leveraging a premiere global organization to identify and execute on the best risk adjusted returning investments across its target assets.
Forward-Looking Statements
Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with respect to the anticipated settlement of the offering and the use of proceeds. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company’s expectations include: (i) factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, including those set forth under the captions “Risk Factors”, “Business”, and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”; (ii) defaults by borrowers in paying debt service on outstanding indebtedness; (iii) impairment in the value of real estate property securing the Company’s loans or in which the Company invests; (iv) availability of mortgage origination and acquisition opportunities acceptable to the Company; (v) potential mismatches in the timing of asset repayments and the maturity of the associated financing agreements; (vi) national and local economic and business conditions, including as a result of the impact of public health emergencies; (vii) the occurrence of certain geo-political events (such as wars, terrorist attacks and tensions between states, including global trade disputes related to tariffs) that affect the normal and peaceful course of international relations; (viii) general and local commercial and residential real estate property conditions; (ix) changes in federal government policies; (x) changes in federal, state and local governmental laws and regulations; (xi) increased competition from entities engaged in mortgage lending and securities investing activities; (xii) changes in interest rates; and (xiii) the availability of, and costs associated with, sources of liquidity.
Contact:
Zachary Tanenbaum
Starwood Property Trust
Phone: 203-422-7788
Email: ztanenbaum@starwood.com