iStar Financial buys back $125 million senior notes in third quarter

By Melissa Kory

Cleveland, Oct. 28 - iStar Financial Inc. repurchased $125 million of its senior notes during the third quarter ended Sept. 30, resulting in a $9.5 million gain on the early extinguishment of debt.

iStar will also repay its $1 billion first priority credit facility due June 2012 during the week of Nov.1, allowing the company to repurchase additional debt and equity securities. It bought back 1.1 million shares in the quarter, according to its quarterly earnings release.

iStar is a New York-based finance company focused on the commercial real estate industry.

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