09:25 AM EDT, 03/13/2024 (MT Newswires) -- Starwood Property Trust ( STWD ) said Wednesday that it plans a $400 million private placement of unsecured senior notes that mature in 2029.

The real estate investment trust said the net proceeds will be used to finance or refinance its recently completed or future sustainability projects. Starwood said that pending full allocation of the proceeds to these projects, the net proceeds will be used for general corporate purposes, including paying down debt under its buyback facilities.

Starwood shares were nearly 1% higher in recent Wednesday premarket activity.

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