SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

 

 

FORM 8-K

 

 

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

 

January 15, 2004

(Date of Report (Date of Earliest Event Reported))

 

 

iSTAR FINANCIAL INC.

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

 

Item 5.                    Other Events

 

On January 14, 2004, iStar Financial Inc. issued a press release announcing that it has agreed to sell $350 million of 4.875% Senior Notes due 2004 to qualified institutional investors in a transaction complying with Securities and Exchange Commission Rule 144A.  A copy of the press release is filed as an exhibit to this report.

 

 

Item 7.                    Exhibits

 

 

Exhibit Number		Exhibit
99.1		Press release issued on January 15, 2004.

 

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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 FINANCIAL INC.
Date:	January 15, 2004	By:	/s/ Jay Sugarman
			Jay Sugarman
			Chairman and Chief Executive Officer

 

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EXHIBIT INDEX

 

Exhibit Number		Description
99.1		Press release.

 

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Exhibit 99.1

 

 

				iStar Financial Inc.
				1114 Avenue of the Americas
				New York, NY 10036
News Release				(212) 930-9400
COMPANY CONTACTS				[NYSE: SFI]
Catherine D. Rice		Andrew C. Richardson				Erin C. Gatewood
Chief Financial Officer		Executive Vice President – Capital Markets				Associate – Investor Relations

 

 

iStar Financial Agrees To Sell $350 Million
of Senior Notes

 

NEW YORK – January 15, 2004 – iStar Financial Inc. (NYSE: SFI) today announced that it has agreed to sell $350 million of 4.875% Senior Notes due 2009 to qualified institutional investors in a transaction complying with Securities and Exchange Commission Rule 144A.  The Notes are being sold at 99.892% of their principal amount to yield 4.90% per annum.  The transaction is expected to close on January 23, 2004.

 

iStar Financial expects to use the proceeds from the sale of the Notes to repay secured indebtedness.

 

The Notes have not been registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

 

This announcement is not an offer to purchase securities, a solicitation of an offer to purchase securities, or a solicitation of an offer to sell securities.

 

 

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iStar Financial is the leading publicly traded finance company focused on the commercial real estate industry. The Company provides custom-tailored financing to high-end private and corporate owners of real estate nationwide, including senior and junior mortgage debt, senior, mezzanine and subordinated corporate capital, and corporate net lease financing. The Company, which is taxed as a real estate investment trust, seeks to deliver a strong dividend and superior risk-adjusted returns on equity to shareholders by providing 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.

 

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