iStar Financial redeems 9% senior notes due 2017 seven weeks early

New York, April 12 – iStar Financial Inc. redeemed its $275 million of 9% senior notes due June 1, 2017 on Wednesday, according to a notice from the issuer.

The company paid 101% of par plus accrued interest for the bonds.

When it sold $375 million of new five-year notes with a 6% coupon on March 8, iStar said it planned to use the proceeds along with cash on hand to repay its 5.85% senior notes due in March and to redeem its 9% notes.

iStar is a New York-based real estate investor and developer.

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