debt
confidence high
sentiment neutral
materiality 0.60
Arbor Realty subsidiary closes $150M 8.5% senior notes offering due 2027
ARBOR REALTY TRUST INC
- Arbor Realty SR issued $150M aggregate principal of 8.50% Senior Notes due October 15, 2027.
- Notes are senior unsecured obligations fully and unconditionally guaranteed by Arbor Realty Trust (ABR).
- Net proceeds of ~$147.5M; ~$46M used to repurchase Arbor's 5.625% Senior Notes due 2023, remainder for general corporate purposes.
- Offering made in private placement to QIBs under Rule 144A and Regulation S.
- Interest payable semiannually at 8.50% starting April 15, 2023.