MUFG arranges its first project finance collateralized loan obligation
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The $500 million CLO is backed by a pool of project finance, corporate infrastructure loans
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NEW YORK, March 1, 2021 /PRNewswire/ -- Mitsubishi UFJ Financial Group (MUFG) is announcing today that it has acted as a structuring lead on Starwood Property Trust Inc.'s first project finance collateralized loan obligation (CLO) – STWD 2021-SIF1.
The deal also represents MUFG's first structuring lead mandate on a project finance CLO backed by a pool of $500 million project finance and corporate infrastructure loans secured primarily by long-term, critical, core infrastructure projects. STWD 2021-SIF1 was designed to optimize Starwood's portfolio management strategy while leveraging MUFG's experience and deep technical expertise in project finance loans.
"This is a milestone transaction for our Securitized Products group. We saw demand from the US and Europe, as investors are looking for deals backed by project finance loans in order to diversify their investments and risk profile," said Tricia Hazelwood, International Head of Securitized Products, MUFG. "We saw superior execution for Classes A through D of this CLO, including a number of first-time investors in the project finance space."
"We are very excited to announce the pricing of our inaugural Energy Infrastructure CLO, a first of its kind in the structured finance markets," said Andrew Sossen, Chief Operating Officer, Starwood Property Trust. "This important transaction enhances our asset returns with match term financing that is non-recourse and has no mark-to-market exposure. We intend this CLO to be the first of many for Starwood Infrastructure Finance."
The CLO is managed by STWD Investment Management, LLC, a wholly owned subsidiary of Starwood Property Trust.
About Starwood Property Trust, Inc.
Starwood Property Trust, is a leading diversified finance company with a core focus on the real estate and infrastructure sectors. An affiliate of global private investment firm Starwood Capital Group, the Company has successfully deployed over $66 billion of capital since inception and manages a portfolio of over $18 billion across debt and equity investments. Starwood Property Trust's investment objective is to generate attractive and stable returns for shareholders, primarily through dividends, by leveraging a premiere global organization to identify and execute on the best risk adjusted returning investments across its target assets. Additional information can be found at www.starwoodpropertytrust.com
About Mitsubishi UFJ Financial Group, Inc.'s U.S. Operations including MUFG Americas Holdings Corporation
The U.S. operations of Mitsubishi UFJ Financial Group, Inc. (MUFG), one of the world's leading financial groups, has total assets of $339 billion at September 30, 2020. As part of that total, MUFG Americas Holdings Corporation (MUAH), a financial holding company, bank holding company, and intermediate holding company, has total assets of $164 billion at September 30, 2020. MUAH's main subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas Inc. MUFG Union Bank, N.A. provides a wide range of financial services to consumers, small businesses, middle-market companies, and major corporations. As of September 30, 2020, MUFG Union Bank, N.A. operated 348 branches, consisting primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York, and Georgia. MUFG Securities Americas Inc. is a registered securities broker-dealer which engages in capital markets origination transactions, domestic and foreign debt and equities securities transactions, private placements, collateralized financings, and securities borrowing and lending transactions. MUAH is owned by MUFG Bank, Ltd. and Mitsubishi UFJ Financial Group, Inc.
MUFG Bank, Ltd., a wholly owned subsidiary of Mitsubishi UFJ Financial Group, Inc., has offices in Argentina, Brazil, Chile, Colombia, Peru, Mexico, and Canada. Visit www.unionbank.com or www.mufgamericas.com for more information.
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world's leading financial groups. Headquartered in Tokyo and with more than 360 years of history, MUFG has a global network with over 2,600 locations in more than 50 countries. The Group has over 180,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to "be the world's most trusted financial group" through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG's shares trade on the Tokyo, Nagoya, and New York stock exchanges. Visit https://www.mufg.jp/english for more information.
Press contact:Oksana PoltavetsT: 518-332-4173E: firstname.lastname@example.org
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