iStar adjusts conversion rate of 3.125% convertibles due 2022

By Rebecca Melvin

New York, March 3 – iStar Inc. adjusted the conversion rate of its 3.125% convertible senior notes due 2022 as a result of the payment of common stock cash dividends, according to a news release.

The conversion price has been raised to 68.3420 shares of iStar common stock per $1,000 principal from 66.8675, and the conversion price was lowered to $14.63 per share from $14.95.

The adjustment was effective Feb. 28.

iStar is a New York-based real estate investment trust.

© 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.