NEW YORK, Dec. 7, 2010 /PRNewswire via COMTEX/ --
iStar Financial Inc. (NYSE: SFI), a publicly traded finance company focused on the commercial real estate industry, announced today that it has called for redemption of its approximately $312 million remaining principal amount of 10% Second Priority Senior Secured Guaranteed Notes due 2014.
The notes are redeemable at 100% of par value plus accrued but unpaid interest to, but not including, the redemption date. The redemption date will be January 6, 2011. After giving effect to this redemption, the Company will have retired the entire $635 million principal amount of the Second Priority Senior Secured Notes issued in its May 2009 exchange offer.
iStar Financial Inc. is a publicly traded finance company focused on the commercial real estate industry. The Company primarily provides custom-tailored investment capital to high-end private and corporate owners of real estate, including senior and mezzanine real estate debt, senior and mezzanine corporate capital, as well as corporate net lease financing and equity. The Company, which is taxed as a real estate investment trust ("REIT"), provides innovative and value added financing solutions to its customers. Additional information on iStar Financial is available on the Company's website at www.istarfinancial.com.
SOURCE iStar Financial Inc.