New York-based iStar Financial Inc. has announced that it will sell $250 million of fixed-rate notes and $225 million of floating-rate notes in an underwritten public offering of unsecured senior notes.The 5.80% fixed-rate notes, due 2011, will be sold at 99.900% of their principal amount to yield 5.824%. The floating-rate notes, due 2009, will bear interest at 0.55% above the three-month London interbank offered rate. The joint book-running managers for the offering are Merrill Lynch & Co. and UBS Investment Bank. The commercial real estate finance company can be found online at http://www.istarfinancial.com.
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