GREENWICH, Conn., June 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 47.7946 from 47.2712 and the conversion rate applicable to its outstanding 4.00% Convertible Senior Notes due 2019 has been adjusted to 50.4531 from 49.9717, in each case effective June 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 April 14, 2017, which adjustment was deferred and carried forward as permitted under the applicable indenture, and the cash dividend with an ex-dividend date of June 28, 2017 to be paid on July 14, 2017.
About Starwood Property Trust, Inc.
Starwood Property Trust (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, Starwood Property Trust also operates as the largest commercial mortgage special servicer in the United States. With total capital deployed since inception of over $33 billion, Starwood Property Trust continues to solidify its position as one of the premier real estate finance companies in the country.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/starwood-property-trust-announces-adjustment-of-conversion-rates-for-455-convertible-senior-notes-due-2018-and-400-convertible-senior-notes-due-2019-300481459.html
SOURCE Starwood Property Trust, Inc.