Starwood floats bond offering for sustainability projects

Starwood Property Trust Inc.
STWD,
+1.30%
stock is down 2.5% in premarket trades on Thursday after the real estate investment firm said it’s offering $350 million in convertible senior notes due 2027 with underwriters Goldman Sachs, J.P. Morgan Securities, Wells Fargo, Barclays, BofA Securities and Citigroup Global Markets. Starwood said it will use proceeds from the offering to “finance or refinance, in whole or in part, recently completed or future eligible green and/or social projects that meet the Green Bond Principles 2021.”