Latham & Watkins Advises Safehold in US$300 Million Notes Offering

Safehold Inc. (the Company or Safehold) (NYSE: SAFE) has announced that its operating company, Safehold GL Holdings LLC (the operating company), has priced a public offering of US$300 million aggregate principal amount of 6.100% senior notes due 2034 (the Notes). The Notes will mature on April 1, 2034. The offering closed on March 4, 2024. The Notes are fully and unconditionally guaranteed by the Company. The public offering price of the Notes was 98.957% of the principal amount for an effective semi-annual yield to maturity of 6.240%.

J.P. Morgan Securities LLC, BofA Securities, Goldman Sachs & Co. LLC, and Truist Securities, Inc. acted as joint book-running managers and representatives of the underwriters for the offering. Mizuho Securities USA LLC, Barclays Capital Inc., SMBC Nikko Securities America, Inc., Morgan Stanley & Co. LLC, and RBC Capital Markets, LLC are also acting as joint book-running managers for the offering.

Latham represented Safehold in the offering with a corporate deal team led by Los Angeles partners Julian Kleindorfer and Lewis Kneib and Chicago partners Alexa Berlin and Jonathan Sarna, with Los Angeles associates Eric Finkelberg, Will Coughlin, and Shayna Servillas. Advice was also provided on tax matters by Los Angeles partner Ana O’Brien and Los Angeles counsel William Kessler, with associates Eric Song and Joseph Marcus.