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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 3:59 AM

Slide #337. iStar Financial Inc. Preferred Stock Offering

Company: iStar Financial Inc. (SFI)
Date announced: 3/12/2013
Shares Offered: 3,500,000
Date of Pricing: 3/13/2013
Price Per Share: $25
Preferred Stock Offering Details: iStar Financial Inc. (NYSE: SFI) announced today that it has launched an offering, subject to market and other conditions, of 3,000,000 shares, or $150 million aggregate liquidation preference, of its Series J Cumulative Convertible Perpetual Preferred Stock ("Series J Convertible Preferred Stock"). The underwriters have the option to purchase up to 450,000 additional shares, or $22.5 million aggregate liquidation preference, of Series J Convertible Preferred Stock. The Company intends to use the net proceeds of the offering for new investment activities and for general corporate purposes. -- updated 3/13 - iStar Financial Inc. (NYSE: SFI) announced today that it has priced an offering of 3,500,000 shares, or $175 million aggregate liquidation preference, of its 4.5% Series J Cumulative Convertible Perpetual Preferred Stock ("Series J Convertible Preferred Stock"). The underwriters have the option to purchase up to 500,000 additional shares, or $25 million aggregate liquidation preference, of Series J Convertible Preferred Stock. The Company intends to use the net proceeds of the offering for new investment activities and general corporate purposes.

iStar Financial is a finance and investment company focused on the commercial real estate industry. Co.'s segments are: real estate finance, comprised of senior and mezzanine real estate loans that may be either fixed-rate or variable-rate; net lease, comprised primarily of properties owned by it and leased to single tenants; operating properties, comprised of commercial and residential properties; and land, comprised of land entitled for master planned communities as well as waterfront and urban infill land parcels. As of Dec 31 2012, Co. owned 277 facilities in its net lease segment; and had 36 commercial facilities and 17 residential projects in its operating properties segment.

Preferreds: SFI.PRE, SFI.PRF, SFI.PRG, SFI.PRI


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Name: iStar Financial Inc
Website: istarfinancial.com
Sector: REITs

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