Arbor Realty Trust, Inc. Closes Additional $30 Million of its Senior Unsecured Notes due 2023, for a Total Issuance of $71 M...
June 29 2020 - 4:10PM
Arbor Realty Trust, Inc. (the “Company”) (NYSE:ABR) announced
today that it has closed the private placement of $30 million
aggregate principal amount of 8.00% senior unsecured notes due
April 30, 2023 (the “Reopened Notes”). The Reopened Notes are a
further issuance of and form a single series with the $40 million
aggregate principal amount of 8.00% senior unsecured notes due
April 30, 2023 initially issued by the Company on April 24,
2020 (the “Initial Notes” and, together with the Reopened
Notes, the “Notes”). Following this offering, the aggregate
outstanding principal amount of the Notes is $70,750,000.
The Company intends to use the net proceeds from the offering to
repay secured indebtedness, make investments relating to its
business and for general corporate purposes.
Piper Sandler & Co. acted as placement agent for this
offering.
The Reopened Notes have not been and will not be registered
under the Securities Act of 1933, as amended (the “Securities
Act”), and are being offered and sold in reliance on an exemption
from registration provided by Section 4(a)(2) of the
Securities Act. The Reopened Notes may not be offered or sold in
the United States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the Notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the Notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
About Arbor Realty Trust, Inc.
Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real
estate investment trust and direct lender, providing loan
origination and servicing for multifamily, seniors housing,
healthcare and other diverse commercial real estate assets.
Headquartered in New York, Arbor manages a multibillion-dollar
servicing portfolio, specializing in government-sponsored
enterprise products. Arbor is a Fannie Mae DUS® lender and Freddie
Mac Optigo Seller/Servicer. Arbor’s product platform also includes
CMBS, bridge, mezzanine and preferred equity lending. Rated by
Standard and Poor’s and Fitch Ratings, Arbor is committed to
building on its reputation for service, quality and customized
solutions with an unparalleled dedication to providing our clients
excellence over the entire life of a loan.
Safe Harbor Statement
Certain items in this press release may constitute
forward-looking statements within the meaning of the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements relating to the
anticipated use of the net proceeds from the offering. These
statements are based on management’s current expectations and
beliefs and are subject to a number of trends and uncertainties
that could cause actual results to differ materially from those
described in the forward-looking statements. The Company can give
no assurance that its expectations will be attained. Factors
that could cause actual results to differ materially from the
Company’s expectations include, but are not limited to, changes in
economic conditions generally, and the real estate markets
specifically, in particular, due to the uncertainties created by
the COVID-19 pandemic, continued ability to source new investments,
changes in interest rates and/or credit spreads, and other risks
detailed in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2019, in the Company’s Quarterly Report on Form
10-Q for the quarter ended March 31, 2020 and its other reports
filed with the SEC. Such forward-looking statements speak only as
of the date of this press release. The Company expressly disclaims
any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company’s expectations with regard
thereto or change in events, conditions, or circumstances on which
any such statement is
based.
Contacts:Arbor Realty Trust, Inc.Paul Elenio, Chief Financial
Officer 516-506-4422pelenio@arbor.com |
Investors:The Ruth GroupAlexander
Lobo646-536-7037alobo@theruthgroup.com |
Media:Bonnie HabyanChief Marketing
Officer516-506-4615bhabyan@arbor.com |
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