iStar solicits consents for three notes as it readies asset sale

Chicago, Oct. 21 – iStar Inc. began a consent solicitation for its outstanding 4¾% senior notes due 2024, its 4¼% senior notes due 2025 and its 5½% senior notes due 2026, according to an 8-K filing with the Securities and Exchange Commission.

The company is looking to clearly align certain provisions of the indentures with the potential sale of the company’s net lease assets.

iStar announced on July 6 that it intends to explore market interest for possible sales of its net lease assets. The process remains ongoing.

Noteholders representing a majority of the notes in each class must consent.

D.F. King & Co., Inc is the tabulation and information agent for the offer.

iStar is a New York-based services provider to the real estate industry.

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