Ladder Capital plans $400 million of new notes to fund redemption

By Cady Vishniac

Detroit, Dec. 30 – Ladder Capital Finance Holdings LLLP and Ladder Capital Finance Corp. intend to issue new senior notes with gross proceeds of at least $400 million, according to an 8-K filing with the Securities and Exchange Commission.

Ladder plans to use some of the proceeds to redeem the last of its 5 7/8% senior notes due 2021.

The redemption is conditioned on the issuance of the new notes.

The company is a New York-based real estate investment trust.

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