U.S. Markets close in 1 hr 49 mins

iStar Announces Pricing of $375 Million Senior Unsecured Notes

NEW YORK, March 8, 2017 /PRNewswire/ -- iStar (STAR) announced today that it has agreed to sell at par $375 million aggregate principal amount of its 6.00% Senior Unsecured Notes due April 2022. The Company intends to use the net proceeds of the offering and cash on hand to repay in full its 5.85% Senior Notes due March 2017, to redeem in full its 9.00% Senior Notes due June 2017 and to pay related expenses.

BofA Merrill Lynch, J.P. Morgan, Barclays, Citigroup, Morgan Stanley, Raymond James and Wells Fargo Securities 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.

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:

 

BofA Merrill Lynch               

NC1-004-03-43

200 North College Street, 3rd Floor

Charlotte, NC 28255-0001

Attn: Prospectus Department

dg.prospectus_requests@baml.com

1-800-294-1322 (toll free)

J.P. Morgan

383 Madison Avenue, 3rd Floor

New York, New York 10179

Attention: Syndicate Desk

hy_syndicate@restricted.chase.com

1-800-245-8812 (toll free)




Barclays

c/o Broadridge Financial Solutions

1155 Long Island Avenue

Edgewood, New York 11717

barclaysprospectus@broadridge.com

1-888-603-5847 (toll free)


 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/istar-announces-pricing-of-375-million-senior-unsecured-notes-300420740.html