iStar gets needed consents for three notes as it readies asset sale

By Wendy Van Sickle

Columbus, Ohio, Oct. 29 – iStar Inc. said it has received the requisite consents to implement proposed amendments to the indentures governing its outstanding 4¾% senior notes due 2024, its 4¼% senior notes due 2025 and its 5½% senior notes due 2026, according to a news release.

As announced on Oct. 21, the company was looking to clearly align certain provisions of the indentures with the potential sale of the company’s net lease assets.

With the receipt of the requisite consents, the company has executed supplemental indentures to the indentures governing the notes to effect the proposed amendments with respect to each series.

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 had to consent for the solicitations to be successful.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.