iStar adjusts conversion rate of 3.125% convertible notes due 2022

By Cady Vishniac

Detroit, Dec. 1 – iStar Inc. has announced an adjustment to the conversion rate of its 3.125% convertible notes due 2022 as a result of the common stock cash dividends to be paid on Dec. 15, according to a news release.

The conversion price has been adjusted to $14.23 per share, or 70.2538 shares of its common stock per $1,000 principal amount of notes, from $14.47 per share, effective Nov. 30.

iStar is a New York-based services provider to the real estate industry.

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