UNIONDALE, N.Y., Oct. 10, 2024 (GLOBE NEWSWIRE) -- 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 $100 million aggregate principal amount of 9.00% senior notes due October 15, 2027 (the "Notes"). The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by the Parent.
The Company expects that the net proceeds of this offering will be used to pay down debt and for general corporate purposes.
Piper Sandler & Co. acted as sole 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 ...
