...September 26, 2024 NEW YORK (S&P Global Ratings) Sept. 26, 2024--S&P Global Ratings today said it assigned its '##-' issue rating to Starwood Property Trust Inc.'s offering of $400 million in senior unsecured sustainability bonds due 2030. The '##-' rating is in line with our ratings on the company's other senior unsecured bonds. This debt issuance comes a few weeks after Starwood announced an offering of its common stock. The company said it would receive net proceeds of about $392 million from that offering. Starwood will use the proceeds of the debt offering to finance or refinance eligible green or social projects. Until full allocation to such projects, the company intends to use the proceeds to pay down a portion of its repurchase facilities. It will use the proceeds of the stock offering to make loans, other investments, and for general corporate purposes. We view the debt and stock offerings favorably because they support Starwood's balance-sheet strength and liquidity amid difficult...
