ACRES Commercial Realty Corp. issues $150M of 5.75% senior unsecured notes due 2026

ACRES Commercial Realty Corp.

Issued $150M in aggregate principal amount of 5.75% senior unsecured notes maturing August 15, 2026.
Interest payable semiannually on Feb 15 and Aug 15, commencing Feb 15, 2022.
Redeemable at make-whole premium prior to May 15, 2026; thereafter at par.
Upon change of control, Company must offer to repurchase notes at 101% of principal plus accrued interest.
Indenture includes financial ratio maintenance covenants and customary events of default.

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