NEW YORK, Sept. 11, 2019 /PRNewswire/ -- iStar (NYSE: STAR) announced today that it has launched an offering, subject to market and other conditions, of $675 million aggregate principal amount of Senior Unsecured Notes due 2024. The Company intends to use the net proceeds of the offering and cash on hand to redeem in full its 4.625% Senior Notes due 2020 and 6.50% Senior Notes due 2021, and to pay related fees and expenses.
BofA Merrill Lynch, J.P. Morgan, Barclays, Morgan Stanley, and Goldman Sachs & Co. LLC 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 |
J.P. Morgan |
Barclays Capital Inc. |
Morgan Stanley & Co. LLC |
Goldman Sachs & Co. LLC |
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SOURCE iStar Inc.
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