Ladder Capital to redeem $81.3 million 7 3/8% notes via stock sale

By Tali David

Minneapolis, Dec. 24 - Ladder Capital Corp. said it may use the proceeds from a common stock offering to redeem $81.3 million principal amount of its 7 3/8% senior notes due Oct. 1, 2017 at an estimated total redemption price of $87.2 million, according to an S-1 filing with the Securities and Exchange Commission.

Proceeds will also be used to grow the company's loan origination and related commercial real estate business lines and for general corporate purposes.

The commercial real estate finance company is based in New York.

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