Starwood Property Trust, Inc. (NYSE: STWD) has priced a $500 million private offering of 5.875% unsecured senior notes due 2029, according to a company press release.

The notes were priced at 100% of the principal amount, with settlement expected on July 10, 2026, subject to customary closing conditions.

The company intends to allocate net proceeds to finance or refinance eligible green and/or social projects. Pending full allocation to such projects, the company plans to use the net proceeds, along with cash on hand, to fund the potential redemption of up to all of its $500 million outstanding 4.375% Senior Notes due 2027, or for general corporate purposes, including repayment of outstanding indebtedness under its repurchase facilities.

The notes were offered exclusively to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to non-U.S. persons outside the United States under Regulation S. The notes have not been registered under the Securities Act or any state securities laws.