Starwood Property Trust Announces Adjustment of Conversion Rates For 4.55% Convertible Senior Notes Due 2018 And 4.00% Convertible Senior Notes Due 2019
GREENWICH, Conn., June 26, 2014 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) today announced that the conversion rate applicable to its outstanding 4.55% Convertible Senior Notes due 2018 has been adjusted to 44.6455 from 44.1753 and the conversion rate applicable to its outstanding 4.00% Convertible Senior Notes due 2019 has been adjusted to 47.5456 from 47.1092, in each case effective June 26, 2014 and subject to further adjustment as provided in the applicable governing indenture. The adjustments have been made pursuant to the terms of the notes as a result of the cash dividend paid on April 15, 2014, which adjustment was deferred and carried forward as permitted under the applicable indenture, and the cash dividend with an ex-dividend date of June 26, 2014 to be paid on July 15, 2014.
About Starwood Property Trust, Inc.
Starwood Property Trust, Inc. is focused on originating, acquiring, financing and managing commercial mortgage loans and other commercial real estate debt investments, commercial mortgage-backed securities, and other commercial real estate-related debt investments. The Company through its 2013 acquisition of LNR Property, LLC ("LNR") now also operates as a special servicer in the United States and as a primary and special servicer in Europe and has expanded its product offering to include fixed rate conduit loans. The Company may also invest in residential mortgage-backed securities, residential mortgage loans, distressed or non-performing commercial loans, commercial properties subject to net leases and commercial real estate owned. The Company is externally managed and advised by SPT Management, LLC, an affiliate of Starwood Capital Group, and has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.
Starwood Property Trust
SOURCE Starwood Property Trust, Inc.