Arbor Realty Trust, Inc. Announces Pricing Of Public Offering Of Senior Notes Due 2021

UNIONDALE, N.Y., May 7, 2014 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (the "Company") (NYSE:ABR) announced today that it has priced its public offering of $55.0 million aggregate principal amount of 7.375% Senior Notes due 2021 (the "Notes"). The Company granted the underwriters a 30-day option to purchase up to an additional $8.25 million aggregate principal amount of the Notes to cover over-allotments, if any. The Company intends to file an application to list the Notes on the NYSE under the symbol "ABRN" and, if approved, expects trading to commence within 30 days after the initial issuance of the Notes.

The Notes will be senior unsecured obligations of the Company and will pay interest quarterly on February 15, May 15, August 15 and November 15 of each year beginning August 15, 2014, at an annual interest rate of 7.375%, and will mature on May 15, 2021 unless earlier redeemed or repurchased. The Company will issue the Notes in denominations of $25 and integral multiples of $25 in excess thereof.

The net proceeds to the Company from this offering, after deducting underwriting discounts and estimated offering expenses, will be approximately $52.9 million (assuming no exercise by the underwriters of their option to purchase additional Notes). The Company intends to use the net proceeds from the offering to make investments, to repurchase or pay liabilities and for general corporate purposes. 

Deutsche Bank Securities Inc., Keefe, Bruyette & Woods, Inc. and MLV & Co. LLC will serve as joint book-running managers for the offering. Credit Suisse Securities (USA) LLC will serve as senior co-manager for the offering. JMP Securities LLC and Ladenburg Thalmann & Co. Inc. will serve as co-managers for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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