Safehold (SAFE) priced $225 million in senior unsecured notes due August 2056 at an all-in coupon of 6.615%, featuring a stairstep cash rate starting at 4.00% and stepping up to the full coupon by year 21, the company said late Monday.
Accounting for a $30 million hedge settlement gain, the effective semi-annual yield to maturity is about 5.83%, the company said.
Proceeds will be used for general corporate purposes, the company added.
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