Loan & DebtJun 30, 2026, 04:08 PM
Arbor Realty Trust to Offer $300M Convertible Senior Notes
AI Summary
Arbor Realty Trust, Inc. announced its intention to offer $300 million in Convertible Senior Notes due 2029 in a private placement. The company plans to use up to $130 million of the net proceeds to repurchase shares of its common stock and a portion to redeem its outstanding $270 million of 4.50% Senior Notes due September 1, 2026. Any remaining proceeds will be allocated for general corporate purposes, and the company will also enter into a prepaid forward stock repurchase transaction.
Key Highlights
- Intends to offer $300 million aggregate principal amount of Convertible Senior Notes due 2029.
- Initial purchasers have a 13-day option to buy up to an additional $45 million in Notes.
- Up to $130 million of net proceeds will be used to repurchase common stock.
- A portion of net proceeds will redeem $270 million of 4.50% Senior Notes due September 1, 2026.
- Remaining proceeds will be used for general corporate purposes.
- Notes are senior, unsecured obligations, convertible under certain circumstances.
- Company expects to enter into a prepaid forward stock repurchase transaction.
Price Impact
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