iStar Financial Announces New $2.95B Credit Agreement

iStar Financial Inc. SFI announced today that it has entered into a new $2.95 billion senior secured credit agreement providing for two tranches of term loans: a $1.50 billion A-1 tranche due June 28, 2013, which bears interest at a rate of LIBOR plus 3.75%, and a $1.45 billion A-2 tranche due June 30, 2014, which bears interest at a rate of LIBOR plus 5.75%. Both tranches include a LIBOR floor of 1.25%.