EX-99.1 3 a04-3285_1ex99d1.htm EX-99.1

Exhibit 99.1

 

 

 

 

 

 

iStar Financial Inc.

 

 

 

 

1114 Avenue of the Americas

 

 

 

 

New York, NY 10036

News Release

 

 

 

(212) 930-9400

 

 

 

 

 

COMPANY CONTACTS

 

 

 

[NYSE: SFI]

 

 

 

 

 

Catherine D. Rice

 

Andrew C. Richardson

 

Laca Wong

Chief Financial Officer

 

Executive Vice President – Capital Markets

 

Associate – Investor Relations

 

iStar Financial Agrees To Sell $150 Million of Senior Floating Rate Notes

 

NEW YORK – March 5, 2004 – iStar Financial Inc. (NYSE: SFI) today announced that it has agreed to sell $150 million of Senior Floating Rate Notes due 2007 to qualified institutional investors in a transaction complying with Securities and Exchange Commission Rule 144A and Regulation S.  The Notes will bear interest at a rate per annum equal to three-month LIBOR plus 1.25%. The transaction is expected to close on March 12, 2004.

 

iStar Financial expects to use the net proceeds from the sale of the Notes to repay secured indebtedness.

 

The Notes have not been registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

 

This announcement is not an offer to purchase securities, a solicitation of an offer to purchase securities, or a solicitation of an offer to sell securities.

 

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iStar Financial is the leading publicly traded finance company focused on the commercial real estate industry. The Company provides custom-tailored financing to high-end private and corporate owners of real estate nationwide, including senior and junior mortgage debt, senior, mezzanine and subordinated corporate capital, and corporate net lease financing. The Company, which is taxed as a real estate investment trust, seeks to deliver a strong dividend and superior risk-adjusted returns on equity to shareholders by providing innovative and value-added financing solutions to its customers. Additional information on iStar Financial is available on the Company’s website at www.istarfinancial.com.

 

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