Arbor Realty Trust, Inc. Closes Offering of Senior Notes due 2023
March 13 2018 - 4:05PM
Arbor Realty Trust, Inc. (the “Company”) (NYSE:ABR) closed today
its private placement to eligible purchasers of $100 million in
aggregate principal amount of 5.625% senior unsecured notes
due May 1, 2023 at 99.987% of par.
The Company intends to use the net proceeds from the offering to
fund the redemption of all $97,860,025 aggregate principal amount
outstanding of its 7.375% Notes due May 15, 2021 (the “2021
Notes”). On March 13, 2018, the Company issued a notice of
redemption pursuant to the indenture governing the 2021 Notes to
redeem all of the 2021 Notes at a redemption price equal to 100.00%
of the principal amount, together with accrued and unpaid interest,
if any, to, but excluding, the redemption date. Payment with
respect to the redemption will be made on April 27, 2018.
Deutsche Bank Securities Inc. and Sandler O’Neill + Partners,
L.P. acted as the initial purchasers for the offering.
The notes have not been registered under the Securities Act of
1933, as amended (the “Securities Act”), or any state securities
laws and, unless so registered, the 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. The notes
are expected to be eligible for trading by qualified institutional
buyers (as defined in Rule 144A under the Securities Act).
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 real estate investment
trust and national direct lender specializing in loan origination
and servicing for multifamily, seniors housing, healthcare and
other diverse commercial real estate assets. Arbor is a Fannie Mae
DUS® Multifamily Lender and a Fannie Mae Small Loan lender, a
Freddie Mac Program Plus® Seller/Servicer and a Freddie Mac Small
Balance Loan Lender, a Fannie Mae and Freddie Mac Seniors Housing
Lender, an FHA Multifamily Accelerated Processing (MAP)/LEAN
Lender, a HUD-approved LIHTC Lender as well as a CMBS, bridge,
mezzanine and preferred equity lender.
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 and expected
eligibility of trading of the notes. 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, risks and uncertainties related to
the completion of the offering on the anticipated terms or at all,
market conditions, the satisfaction of customary closing conditions
related to the offering, and other risks detailed in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2017 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
GroupLee Roth646-536-7012lroth@theruthgroup.com |
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Media:Bonnie Habyan, EVP
of Marketing516-506-4615bhabyan@arbor.com |
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