GREENWICH, Conn., Dec. 30, 2016 /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 47.2712 from 46.7513 and the conversion rate applicable to its outstanding 4.00% Convertible Senior Notes due 2019 has been adjusted to 49.9717 from 49.4927, in each case effective December 28, 2016 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 October 17, 2016, which adjustment was deferred and carried forward as permitted under the applicable indenture, and the cash dividend with an ex-dividend date of December 28, 2016 to be paid on January 13, 2017.
About Starwood Property Trust, Inc.
Starwood Property Trust, Inc. (NYSE: STWD), an affiliate of global private investment firm Starwood Capital Group, is the largest commercial mortgage real estate investment trust in the United States. The Company's core business focuses on originating, acquiring, financing and managing commercial mortgage loans and other commercial real estate debt and equity investments. Through its subsidiary LNR Property, LLC, the Company also operates as the largest commercial mortgage special servicer in the United States.
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 of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Starwood Property Trust, Inc. 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 completion of pending investments, continued ability to acquire additional investments, competition within the finance and real estate industries, economic conditions, availability of financing and other risks detailed from time to time in the Company's reports filed with the SEC.
Starwood Property Trust
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SOURCE Starwood Property Trust, Inc.