iStar Announces Pricing of $1.32 Billion of Unsecured Senior Notes

NEW YORK, June 10, 2014 /PRNewswire/ -- iStar Financial Inc. (NYSE: STAR) announced today that it has agreed to sell at par $550 million aggregate principal amount of its unsecured 4.00% Senior Notes due November 2017 and $770 million aggregate principal amount of its unsecured 5.00% Senior Notes due July 2019. The Company intends to use the net proceeds of the offering, together with cash on hand, to repay in full all amounts outstanding under, and terminate, its 2013 Secured Credit Facility due 2017. The transaction is expected to close on June 13, 2014, subject to customary closing conditions.

BofA Merrill Lynch, Barclays and J.P. Morgan are the joint book-running managers for the offering. The notes will be issued pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the offered notes, nor shall there be any sale of the notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

The notes will be offered by means of the preliminary prospectus supplement and accompanying prospectus for the offering. Electronic copies of the prospectus supplement and accompanying prospectus for the offering may be obtained for free by searching the SEC online database (EDGAR) on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus for the offering may be obtained by contacting the joint book-running managers at the following addresses or telephone numbers:

BofA Merrill Lynch   
222 Broadway
New York, New York 10038
Attn: Prospectus Department
[email protected] 
1-800-294-1322 (toll free)

Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717 
[email protected] 
1-888-603-5847 (toll free)

J.P. Morgan
383 Madison Avenue, 3rd Floor
New York, New York 10179
Attention: Syndicate Desk
1-800-245-8812 (toll free)

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SOURCE iStar Financial Inc.