This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

RAIT Financial Trust Announces Public Offering Of Senior Notes Due 2024

Stocks in this article: RAS

RAIT Financial Trust (“RAIT”) (NYSE:RAS) today announced that it has commenced a public offering of Senior Notes due 2024 (the “Notes”). RAIT expects to grant the underwriters a 30-day option to purchase up to an additional 15% of Notes in the proposed offering. Barclays, Deutsche Bank Securities, Credit Suisse and Keefe, Bruyette & Woods, a Stifel Company, are acting as joint book-running managers for the offering. Ladenburg Thalmann & Co. Inc. and William Blair are senior co-managers for the offering. Compass Point, Drexel Hamilton and MLV & Co. are acting as co-managers for the offering.

The Notes will be senior unsecured obligations of RAIT and will pay interest quarterly. We will issue the Notes in denominations of $25 and integral multiples of $25 in excess thereof. The aggregate principal amount of Notes being offered, interest rate and offering price of the Notes will be determined at the time of pricing of the offering. RAIT intends to apply to list the Notes on the New York Stock Exchange (“NYSE”). If the application is approved, RAIT expects trading in the Notes on the NYSE to begin within 30 days after the Notes are first issued.

RAIT intends to use the net proceeds from the proposed sale of the Notes for working capital and general trust purposes.

The Notes will be offered and sold under RAIT’s effective shelf registration statement, as amended, on file with the Securities and Exchange Commission (the “SEC”). Before you invest, you should read the prospectus and the preliminary prospectus supplement relating to the offering of the Notes and other documents RAIT has filed with the SEC for more complete information about RAIT and the offering of the Notes. You may obtain electronic copies of these filed documents at the SEC web site at www.sec.gov. Copies of the prospectus and the preliminary prospectus supplement relating to the offering of the Notes may also be obtained by requesting copies from the book-running managers by contacting: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone at (888) 603-5847 or by e-mail at Barclaysprospectus@broadridge.com; Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by calling (800) 503-4611, or by emailing prospectus.cpdg@db.com; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York, 10010, by phone at (800) 221-1037 or by email atnewyork.prospectus@credit-suisse.com; or Keefe, Bruyette & Woods, Inc., Attn: Syndicate Department, One South Street, 15th Floor, Baltimore, MD 21202, or by calling (855) 300-7136.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor does it constitute an offer, solicitation or sale of the Notes in any jurisdiction in which such offer, solicitation or sale is unlawful.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs