{"schema_version":"secwatch.filing_event.v1","accession":"0001253986-26-000023","form_type":"8-K","ticker":"ABR","cik":"0001253986","company_name":"ARBOR REALTY TRUST INC","filed_at":"2026-03-23T23:59:59+00:00","discovered_at":"2026-05-14T18:02:34.674922+00:00","generated_at":"2026-05-15T09:20:10.148273+00:00","sec_items":["1.01","2.03","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Arbor Realty closes $762.6M CLO securitization, issues $674M investment-grade notes","bullets":["$762.6M collateralized loan obligation closed; $674M investment-grade notes issued at 1.73% over Term SOFR.","Arbor retained $88.6M in subordinate interests; collateral includes $100M capacity for future loan acquisitions.","Proceeds to repay credit facilities, pay transaction expenses, and fund future loans and investments.","Notes have 2.5-year reinvestment period; securitization accounted for as balance sheet financing."],"urls":{"canonical":"https://secwatch.observer/filing/0001253986-26-000023","json":"https://secwatch.observer/filing/0001253986-26-000023.json","markdown":"https://secwatch.observer/filing/0001253986-26-000023.md","text":"https://secwatch.observer/filing/0001253986-26-000023.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1253986/000125398626000023/0001253986-26-000023-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1253986/000125398626000023/abr-20260323.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T09:20:10.148273+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0b50e877cd6f448cc69f78d1b5815e4b9e4a449e","claim":"ARBOR REALTY TRUST INC incurred senior notes of $762,647,903 with Arbor Realty Commercial Real Estate Notes 2026-FL1, LLC at 1.73% plus Term SOFR maturing September 2043.","evidence_excerpt":"As of March 23, 2026 (the “Closing Date”), the Secured Notes are secured by a portfolio of real estate related assets and cash with a face value of approximately $762,647,903, with real estate related assets consisting primarily of first-lien mortgage bridge loans and interests therein. Through its ownership of the equity of the Issuer, Arbor intends to own the portfolio of collateral interests until its maturity and will account for the issuance of the Offered Notes on its balance sheet as a financing. The financing has a reinvestment period of approximately two years and six months that allows the principal proceeds and sale proceeds (if any) of the collateral interests to be reinvested in qualifying replacement collateral interests, subject to the satisfaction of certain conditions set forth in the Indenture. The proceeds of the issuance of the securities also includes $100,000,000 for the purpose of acquiring additional collateral interests for a period of up to 180 days from the C","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1253986/000125398626000023/0001253986-26-000023-index.htm","confidence":0.9},{"claim_id":"e1b923eaef4e8356341c9c16d9a54fd86a388716","claim":"ARBOR REALTY TRUST INC entered into Indenture with Arbor Realty SR, Inc., Wilmington Trust, National Association, Computershare Trust Company, National Association (effective 2026-03-23).","evidence_excerpt":"the Notes were issued pursuant to an indenture, dated as of March 23, 2026 (the “Indenture”), by and among the Issuer, Arbor Realty SR, Inc., as advancing agent, Wilmington Trust, National Association, as trustee (the “Trustee”) and Computershare Trust Company, National Association, as note administrator, paying agent, calculation agent, transfer agent, securities intermediary, backup advancing agent and notes registrar (the “Note Administrator”) and Computershare Trust Company, National Association, as custodian","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1253986/000125398626000023/0001253986-26-000023-index.htm","confidence":0.9}],"comparable_filings":[{"accession":"0001213900-26-054183","ticker":"EMAT","company_name":"Evolution Metals & Technologies Corp.","filed_at":"2026-05-11T23:59:59+00:00","headline":"EMAT secures $100M convertible debenture facility from Yorkville; first $20M tranche issued","event_type":"debt","sec_items":["1.01","2.03","3.02","7.01","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 7.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-054183","json":"https://secwatch.observer/filing/0001213900-26-054183.json","markdown":"https://secwatch.observer/filing/0001213900-26-054183.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/0001213900-26-054183-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/ea0290073-8k_evolution.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"As of March 23, 2026 (the “Closing Date”), the Secured Notes are secured by a portfolio of real estate related assets and cash with a face value of approximately $762,647,903, with real estate related assets consisting primarily of first-lien mortgage bridge loans and interests therein. Through its ownership of the equity of the Issuer, Arbor intends to own the portfolio of collateral interests until its maturity and will account for the issuance of the Offered Notes on its balance sheet as a financing. The financing has a reinvestment period of approximately two years and six months that allows the principal proceeds and sale proceeds (if any) of the collateral interests to be reinvested in qualifying replacement collateral interests, subject to the satisfaction of certain conditions set forth in the Indenture. The proceeds of the issuance of the securities also includes $100,000,000 for the purpose of acquiring additional collateral interests for a period of up to 180 days from the C","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1253986/000125398626000023/0001253986-26-000023-index.htm","comparable_excerpt":"The first Convertible Debenture (the “First Debenture”) in the principal amount of $20,000,000 was issued on May 7, 2026.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/0001213900-26-054183-index.htm"}},{"accession":"0001193125-26-212391","ticker":"RNST","company_name":"RENASANT CORP","filed_at":"2026-05-07T23:59:59+00:00","headline":"Renasant prices $300M 6.25% sub notes due 2036, net $295.7M, may redeem $40M 5.50% notes","event_type":"debt","sec_items":["1.01","2.03","7.01","9.01"],"materiality_score":0.55,"calibrated_materiality_score":0.55,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 7.01, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-212391","json":"https://secwatch.observer/filing/0001193125-26-212391.json","markdown":"https://secwatch.observer/filing/0001193125-26-212391.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/715072/000119312526212391/0001193125-26-212391-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/715072/000119312526212391/d145081d8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"As of March 23, 2026 (the “Closing Date”), the Secured Notes are secured by a portfolio of real estate related assets and cash with a face value of approximately $762,647,903, with real estate related assets consisting primarily of first-lien mortgage bridge loans and interests therein. Through its ownership of the equity of the Issuer, Arbor intends to own the portfolio of collateral interests until its maturity and will account for the issuance of the Offered Notes on its balance sheet as a financing. The financing has a reinvestment period of approximately two years and six months that allows the principal proceeds and sale proceeds (if any) of the collateral interests to be reinvested in qualifying replacement collateral interests, subject to the satisfaction of certain conditions set forth in the Indenture. The proceeds of the issuance of the securities also includes $100,000,000 for the purpose of acquiring additional collateral interests for a period of up to 180 days from the C","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1253986/000125398626000023/0001253986-26-000023-index.htm","comparable_excerpt":"for the issuance and sale of $300 million aggregate principal amount of its 6.25% Fixed-to-Floating Rate Subordinated Notes due 2036","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/715072/000119312526212391/0001193125-26-212391-index.htm"}},{"accession":"0001993004-26-000044","ticker":"NWE","company_name":"NorthWestern Energy Group, Inc.","filed_at":"2026-06-02T11:22:44+00:00","headline":"NorthWestern Energy subsidiary enters $225M secured term loan, repays revolver","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.5,"calibrated_materiality_score":0.5,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001993004-26-000044","json":"https://secwatch.observer/filing/0001993004-26-000044.json","markdown":"https://secwatch.observer/filing/0001993004-26-000044.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1993004/000199300426000044/0001993004-26-000044-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1993004/000199300426000044/nwe-20260527.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"As of March 23, 2026 (the “Closing Date”), the Secured Notes are secured by a portfolio of real estate related assets and cash with a face value of approximately $762,647,903, with real estate related assets consisting primarily of first-lien mortgage bridge loans and interests therein. Through its ownership of the equity of the Issuer, Arbor intends to own the portfolio of collateral interests until its maturity and will account for the issuance of the Offered Notes on its balance sheet as a financing. The financing has a reinvestment period of approximately two years and six months that allows the principal proceeds and sale proceeds (if any) of the collateral interests to be reinvested in qualifying replacement collateral interests, subject to the satisfaction of certain conditions set forth in the Indenture. The proceeds of the issuance of the securities also includes $100,000,000 for the purpose of acquiring additional collateral interests for a period of up to 180 days from the C","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1253986/000125398626000023/0001253986-26-000023-index.htm","comparable_excerpt":"NW Corp's obligations under the Term Loan are secured by a $225 million first mortgage bond","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1993004/000199300426000044/0001993004-26-000044-index.htm"}},{"accession":"0001140361-26-023577","ticker":"TCPC","company_name":"BlackRock TCP Capital Corp.","filed_at":"2026-06-01T20:50:02+00:00","headline":"BlackRock TCP Capital closes $535.8M CLO securitization, repays existing debt facilities","event_type":"debt","sec_items":["1.01","1.02","2.03","9.01"],"materiality_score":0.6,"calibrated_materiality_score":0.6,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-26-023577","json":"https://secwatch.observer/filing/0001140361-26-023577.json","markdown":"https://secwatch.observer/filing/0001140361-26-023577.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1370755/000114036126023577/0001140361-26-023577-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1370755/000114036126023577/ef20075169_8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"As of March 23, 2026 (the “Closing Date”), the Secured Notes are secured by a portfolio of real estate related assets and cash with a face value of approximately $762,647,903, with real estate related assets consisting primarily of first-lien mortgage bridge loans and interests therein. Through its ownership of the equity of the Issuer, Arbor intends to own the portfolio of collateral interests until its maturity and will account for the issuance of the Offered Notes on its balance sheet as a financing. The financing has a reinvestment period of approximately two years and six months that allows the principal proceeds and sale proceeds (if any) of the collateral interests to be reinvested in qualifying replacement collateral interests, subject to the satisfaction of certain conditions set forth in the Indenture. The proceeds of the issuance of the securities also includes $100,000,000 for the purpose of acquiring additional collateral interests for a period of up to 180 days from the C","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1253986/000125398626000023/0001253986-26-000023-index.htm","comparable_excerpt":"Item 1.01. Entry into a Material Definitive Agreement. On May 27, 2026 (the \" Closing Date \"), BlackRock TCP Capital Corp. (the \" Company \"), through its subsidiary, completed a $535,780,000 securitization of certain loans held by a subsidiary of the Company (the \" CLO Transaction \"). On the Closing Date and in connection with the CLO Transaction, BlackRock DLF 2026-C","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1370755/000114036126023577/0001140361-26-023577-index.htm"}},{"accession":"0000785161-26-000161","ticker":"EHC","company_name":"Encompass Health Corp","filed_at":"2026-06-01T20:26:16+00:00","headline":"Encompass Health issues $500M 5.875% notes due 2034; to redeem $400M of 4.500% notes due 2028","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.5,"calibrated_materiality_score":0.5,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0000785161-26-000161","json":"https://secwatch.observer/filing/0000785161-26-000161.json","markdown":"https://secwatch.observer/filing/0000785161-26-000161.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/785161/000078516126000161/0000785161-26-000161-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/785161/000078516126000161/ehc-20260529.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"As of March 23, 2026 (the “Closing Date”), the Secured Notes are secured by a portfolio of real estate related assets and cash with a face value of approximately $762,647,903, with real estate related assets consisting primarily of first-lien mortgage bridge loans and interests therein. Through its ownership of the equity of the Issuer, Arbor intends to own the portfolio of collateral interests until its maturity and will account for the issuance of the Offered Notes on its balance sheet as a financing. The financing has a reinvestment period of approximately two years and six months that allows the principal proceeds and sale proceeds (if any) of the collateral interests to be reinvested in qualifying replacement collateral interests, subject to the satisfaction of certain conditions set forth in the Indenture. The proceeds of the issuance of the securities also includes $100,000,000 for the purpose of acquiring additional collateral interests for a period of up to 180 days from the C","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1253986/000125398626000023/0001253986-26-000023-index.htm","comparable_excerpt":"On May 29, 2026, Encompass Health Corporation (the “Company”) completed the issuance and sale of $500 million in aggregate principal amount of its 5.875% Senior Notes due 2034 (the “Notes”), along with the related guarantees of the Notes by certain of the Company’s subsidiaries (the “Guarantees”), in a private offering.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/785161/000078516126000161/0000785161-26-000161-index.htm"}},{"accession":"0001628280-26-039479","ticker":"VVX","company_name":"V2X, Inc.","filed_at":"2026-06-01T20:10:20+00:00","headline":"V2X refinances $868.5M term loans with new tranche maturing 2030; SOFR+2% margin","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-26-039479","json":"https://secwatch.observer/filing/0001628280-26-039479.json","markdown":"https://secwatch.observer/filing/0001628280-26-039479.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/0001628280-26-039479-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/vec-20260529.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"As of March 23, 2026 (the “Closing Date”), the Secured Notes are secured by a portfolio of real estate related assets and cash with a face value of approximately $762,647,903, with real estate related assets consisting primarily of first-lien mortgage bridge loans and interests therein. Through its ownership of the equity of the Issuer, Arbor intends to own the portfolio of collateral interests until its maturity and will account for the issuance of the Offered Notes on its balance sheet as a financing. The financing has a reinvestment period of approximately two years and six months that allows the principal proceeds and sale proceeds (if any) of the collateral interests to be reinvested in qualifying replacement collateral interests, subject to the satisfaction of certain conditions set forth in the Indenture. The proceeds of the issuance of the securities also includes $100,000,000 for the purpose of acquiring additional collateral interests for a period of up to 180 days from the C","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1253986/000125398626000023/0001253986-26-000023-index.htm","comparable_excerpt":"The Amendment provides for, among other things, a new tranche of term loans under the Credit Agreement in an aggregate original principal amount of $868,522,978.38 (the “New Term Loans”), which New Term Loans replace or refinance in full all of the existing term loans outstanding under the Credit Agreement (as in effect immediately prior to the Amendment), as further set forth in the Amendment. The New Term Loans mature on December 6, 2030.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/0001628280-26-039479-index.htm"}},{"accession":"0000008947-26-000108","ticker":"AZZ","company_name":"AZZ INC","filed_at":"2026-05-08T23:59:59+00:00","headline":"AZZ refinances revolver; maturity extended to 2029, margins cut 50 bps","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0000008947-26-000108","json":"https://secwatch.observer/filing/0000008947-26-000108.json","markdown":"https://secwatch.observer/filing/0000008947-26-000108.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/0000008947-26-000108-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/azz-20260507.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"As of March 23, 2026 (the “Closing Date”), the Secured Notes are secured by a portfolio of real estate related assets and cash with a face value of approximately $762,647,903, with real estate related assets consisting primarily of first-lien mortgage bridge loans and interests therein. Through its ownership of the equity of the Issuer, Arbor intends to own the portfolio of collateral interests until its maturity and will account for the issuance of the Offered Notes on its balance sheet as a financing. The financing has a reinvestment period of approximately two years and six months that allows the principal proceeds and sale proceeds (if any) of the collateral interests to be reinvested in qualifying replacement collateral interests, subject to the satisfaction of certain conditions set forth in the Indenture. The proceeds of the issuance of the securities also includes $100,000,000 for the purpose of acquiring additional collateral interests for a period of up to 180 days from the C","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1253986/000125398626000023/0001253986-26-000023-index.htm","comparable_excerpt":"The Seventh Amendment (i) terminated the Initial Revolving Credit Commitments and simultaneously replaced them in their entirety with Extended Revolving Credit Commitments having a Maturity Date of May 7, 2029, (ii) decreased the interest rate margin applicable to the Revolving Credit Loans from margins ranging from 175 basis points to 275 basis points (subject to leverage ratio step-downs) to margins ranging from 125 basis points to 225 basis points (subject to leverage ratio step-downs)","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/0000008947-26-000108-index.htm"}},{"accession":"0001104659-26-057953","ticker":"ILPT","company_name":"Industrial Logistics Properties Trust","filed_at":"2026-05-08T23:59:59+00:00","headline":"ILPT Mountain JV closes $1.62B loan at 5.71% fixed, repays $1.6B existing debt","event_type":"debt","sec_items":["1.01","1.02","2.03","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-057953","json":"https://secwatch.observer/filing/0001104659-26-057953.json","markdown":"https://secwatch.observer/filing/0001104659-26-057953.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1717307/000110465926057953/0001104659-26-057953-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1717307/000110465926057953/tm2613865d1_8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"As of March 23, 2026 (the “Closing Date”), the Secured Notes are secured by a portfolio of real estate related assets and cash with a face value of approximately $762,647,903, with real estate related assets consisting primarily of first-lien mortgage bridge loans and interests therein. Through its ownership of the equity of the Issuer, Arbor intends to own the portfolio of collateral interests until its maturity and will account for the issuance of the Offered Notes on its balance sheet as a financing. The financing has a reinvestment period of approximately two years and six months that allows the principal proceeds and sale proceeds (if any) of the collateral interests to be reinvested in qualifying replacement collateral interests, subject to the satisfaction of certain conditions set forth in the Indenture. The proceeds of the issuance of the securities also includes $100,000,000 for the purpose of acquiring additional collateral interests for a period of up to 180 days from the C","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1253986/000125398626000023/0001253986-26-000023-index.htm","comparable_excerpt":"Stanley Bank, N.A., Bank of America, N.A., Bank of Montreal and UBS AG New York Branch, or collectively,\nthe lenders, pursuant to which Mountain JV obtained, in aggregate, a $1.62 billion loan secured\nby 90 of its properties, or the Loan . Also on May 8, 2026, we entered into a guaranty in favor of the lenders, pursuant to which\nwe guaranteed certain limited","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1717307/000110465926057953/0001104659-26-057953-index.htm"}}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}