iStar Financial raises debt, stock, preferred shelf to $500 million

New York, March 1 - iStar Financial Inc. raised its filed shelf registration for common stock, preferred stock, depositary shares, debt securities and warrants to $500 million from $125 million previously in a filing with the Securities and Exchange Commission Friday. The debt securities and preferred stock can be structured as convertibles.

The New York City-based real estate finance company said it would use proceeds from the securities sales to repay debt, for new investments or for other general corporate purposes.

For the nine months to Sept. 30, 2001, iStar had an earnings to fixed charge and preferred stock dividend ratio of 1.9 times, the same as for all of 2000.

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