Arbor Realty SR, Inc. Closes Offering of $95 Million of Senior Unsecured Notes due 2026
17 Marzo 2023 - 9:05PM
Arbor Realty Trust, Inc. (the “Parent” or “Arbor”) (NYSE: ABR)
announced today that its subsidiary, Arbor Realty SR, Inc. (the
“Company”), has closed the private placement of $95 million
aggregate principal amount of 7.75% senior unsecured notes
due March 30, 2026 (the “Notes”). The Notes will be fully and
unconditionally guaranteed on a senior basis by the Parent.
The Company expects to use the net proceeds of
this offering to redeem the Parent’s outstanding
$70.75 million aggregate principal amount of 8.00% senior
unsecured notes due April 2023 and use any remaining proceeds from
this offering for general corporate purposes.
Piper Sandler & Co. acted as placement agent
for this offering.
The 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 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,
single-family rental (SFR) portfolios, 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 leading Fannie
Mae DUS® lender and Freddie Mac Optigo® Seller/Servicer, and an
approved FHA Multifamily Accelerated Processing (MAP) lender.
Arbor’s product platform also includes bridge, CMBS, mezzanine, and
preferred equity loans. 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. 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.
Arbor can give no assurance that its expectations will be attained.
Factors that could cause actual results to differ materially from
Arbor’s expectations include, but are not limited to, changes in
economic conditions generally, and the real estate markets
specifically, in particular, due to the severity and duration of
the COVID-19 pandemic, continued ability to source new investments,
changes in interest rates and/or credit spreads, and other risks
detailed in Arbor’s Annual Report on Form 10-K for the year
ended December 31, 2022 and its other reports filed with
the SEC. Such forward-looking statements speak only as of the
date of this press release. Arbor 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 Arbor’s expectations with regard thereto or
change in events, conditions, or circumstances on which any such
statement is based.
Contact:
Arbor Realty Trust, Inc. Paul Elenio, Chief Financial Officer
516-506-4422 pelenio@arbor.com |
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