Loan & DebtJul 6, 2026, 05:27 PM
Arbor Realty Trust Issues $375M Convertible Senior Notes
AI Summary
Arbor Realty Trust, Inc. completed the issuance and sale of $375 million aggregate principal amount of its 6.25% Convertible Senior Notes due 2029. The notes bear interest at 6.25% annually and mature on July 1, 2029, with an initial conversion rate of 164.0016 shares per $1,000 principal amount. The company intends to use the proceeds to repurchase approximately $11.6 million of common stock, repurchase $102.7 million of common stock through a Prepaid Forward Transaction, and redeem its outstanding $270 million of 4.50% Senior Notes due September 1, 2026.
Key Highlights
- Issued $375 million aggregate principal amount of 6.25% Convertible Senior Notes due 2029.
- Notes bear interest at 6.25% per year, payable semi-annually.
- Notes mature on July 1, 2029, unless earlier converted or repurchased.
- Initial conversion rate is 164.0016 shares per $1,000 principal amount (approx. $6.10/share).
- Used $11.6 million to repurchase 2,140,300 shares of common stock.
- Used $102.7 million to repurchase shares via a Prepaid Forward Transaction.
- Used proceeds to redeem $270 million of 4.50% Senior Notes due September 1, 2026.
Price Impact
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