UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| ITEM 8.01 | Other Information |
On December 6, 2019, iStar Inc. (the “Company”) announced that it commenced an abbreviated cash tender offer (the “Tender Offer”) for any and all of its outstanding $375 million aggregate principal amount of 6.00% Senior Notes due 2022 (the “2022 Notes”). A copy of the press release, dated December 6, 2019, announcing the commencement of the Tender Offer is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
Also, on December 6, 2019, the Company announced that it commenced an offering of senior unsecured notes due 2025 (the “Notes”). The Company intends to use the net proceeds from the offering to repurchase the 2022 Notes pursuant to the Tender Offer, redeem any 2022 Notes that remain outstanding after the consummation of the Tender Offer, repay a portion of the borrowings outstanding under its $650 million secured senior term loan and pay any related premiums, fees and expenses in connection with the foregoing. A copy of the press release, dated December 6, 2019, announcing the offering of the Notes, is attached as Exhibit 99.2 hereto and is incorporated herein by reference.
This Current Report on Form 8-K is not an offer to purchase or a solicitation of an offer to sell the 2022 Notes. In addition, any redemption of the 2022 Notes will be made solely pursuant to a redemption notice delivered pursuant to the indenture governing the 2022 Notes, and nothing contained in this announcement constitutes a notice of redemption of the 2022 Notes. This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
| ITEM 9.01 | Financial Statements and Exhibits. |
| 99.1 | Press release, dated December 6, 2019, announcing the commencement of the Tender Offer. |
| 99.2 | Press release, dated December 6, 2019, announcing the offering of the Notes. |
| 104 | Cover Page Interactive Data File--the cover page XBRL tags are embedded within the Inline XBRL document. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| iStar Inc. | ||
| Date: December 6, 2019 | By: | /s/ JAY SUGARMAN |
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Jay Sugarman Chairman of the Board of Directors and Chief Executive Officer (principal executive officer) |
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