Commercial real estate finance company Starwood Property Trust announced today the launch of a private offering of $300 million sustainability bonds.
According to the company, the proceeds from the offering will be used in accordance with the Green Bond Principles (2018), Social Bond Principles (2020) and Sustainability Bond Guidelines (2018), with eligible activities under these frameworks including renewable energy, green buildings, and affordable housing.
The company stated that pending full allocation of an amount equal to the net proceeds to eligible green and/or social projects, it intends to use the net proceeds to fund the redemption of the remaining $250 million outstanding principal amount of its 3.625% Senior Notes due 2021, and for general corporate purposes.
Starwood Property Trust, an affiliate of Starwood Capital Group, is a diversified finance company with a core focus on the real estate and infrastructure sectors, managing a portfolio of over $17 billion across debt and equity investments.
The post Starwood Property Trust Launches $300 Million Sustainability Bond Offering appeared first on ESG Today.