New Issue: Arbor Realty settles $150 million 8.5% notes due 2027

By Wendy Van Sickle

Columbus, Ohio, Oct. 11 – Arbor Realty Trust, Inc. subsidiary Arbor Realty SR, Inc. completed a $150 million sale of 8.5% senior notes due 2027 on Oct. 17, according to an 8-K filed with the Securities and Exchange Commission and a press release.

The notes were offered under Rule 144A and Regulation S.

Piper Sandler & Co. was the underwriter.

Proceeds were used to repurchase $46 million of Arbor’s outstanding 5.625% senior notes due 2023 in privately negotiated transactions and the remainder will be used for general corporate purposes.

Arbor Realty is a Uniondale, N.Y.-based real estate investment trust and national direct lender.

Issuer:	Arbor Realty SR, Inc.
Guarantor:	Arbor Realty Trust, Inc.
Issue:	Senior notes
Amount:	$150 million
Maturity:	Oct. 15, 2027
Underwriter:	Piper Sandler & Co.
Coupon:	8.5%
Call:	Make-whole call at Treasuries plus 50 bps before July 15, 2027, then at par
Pricing date:	Oct. 6
Settlement date:	Oct. 11
Distribution:	Rule 144A and Regulation S
Cusip:	03881NAC1, 03881NAD9, U0409AAA9
Trustee:	UMB Bank, NA

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