debt
confidence high
sentiment neutral
materiality 0.40
Arbor Realty Trust closes $825M CLO securitization, issues $730.1M investment-grade notes
ARBOR REALTY TRUST INC
- Issued $730.125M investment-grade notes and $94.875M below-investment-grade notes in private placement; retained $112.4M subordinate interests.
- Proceeds to repay credit facility borrowings, pay transaction expenses, and fund future loans and investments.
- Notes carry weighted average spread of 1.76% over Term SOFR; stated maturity April 2044, expected weighted average life 2.84–4.37 years.
- Reinvestment period of ~2.5 years; $56.7M capacity to acquire additional loans within 180 days.
- Securitization accounted for as balance-sheet financing; collateral primarily first-lien mortgage bridge loans.