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., Dec. 28, 2017 /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 48.3443 from 47.7946 and the conversion rate applicable to its outstanding 4.00% Convertible Senior Notes due 2019 has been adjusted to 50.9581 from 50.4531, in each case effective December 28, 2017 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 13, 2017, 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, 2017 to be paid on January 15, 2018.
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.
Contact:
Zachary Tanenbaum
Starwood Property Trust
Phone: 203-422-7788
Email: ztanenbaum@starwood.com
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