NEW YORK, May 7, 2013 /PRNewswire/ -- iStar Financial Inc. (NYSE: SFI) announced today that it has agreed to sell at par $265 million aggregate principal amount of unsecured 3.875% Senior Notes due July 2016. Based on investor demand, the Company also agreed to sell at par $300 million aggregate principal amount of unsecured 4.875% Senior Notes due July 2018. The Company will use the net proceeds of the offerings to pay the remaining $97 million aggregate principal amount outstanding of its 8.625% Senior Notes due June 2013 and the remainder of the net proceeds, together with cash on hand, to redeem the remaining $448 million aggregate principal amount outstanding of its 5.95% Senior Notes due October 2013.
BofA Merrill Lynch, Barclays and J.P. Morgan 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 222 Broadway New York, New York 10038 Attn: Prospectus Department email@example.com
Barclays Capital Inc. c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, New York 11717 firstname.lastname@example.org 1-888-603-5847 (toll free)
J.P. Morgan 383 Madison Avenue, 3rd Floor New York, New York 10179 Attention: Syndicate Desk 1-800-245-8812 (toll free)
SOURCE iStar Financial Inc.