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Arbor Realty Trust, 7.375% Senior Notes due 5/15/2021
Ticker Symbol: ABRN* CUSIP: 038923884 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/27/2018
Security has been Called for: Friday, April 27, 2018
March 13, 2018 — Arbor Realty Trust, Inc. closed today its private placement to eligible purchasers of $100 million in aggregate principal amount of 5.625% senior unsecured notes due May 1, 2023 at 99.987% of par. The Company intends to use the net proceeds from the offering to fund the redemption of all $97,860,025 aggregate principal amount outstanding of its 7.375% Notes due May 15, 2021. On March 13, 2018, the Company issued a notice of redemption pursuant to the indenture governing the 2021 Notes to redeem all of the 2021 Notes at a redemption price equal to 100.00% of the principal amount, together with accrued and unpaid interest, if any, to, but excluding, the redemption date. Payment with respect to the redemption will be made on April 27, 2018. __________ March 8, 2018 — Arbor Realty Trust, Inc. today announced the pricing of $100 million in aggregate principal amount of 5.625% senior unsecured notes due May 1, 2023 at 100% of par, in a private offering. The offering is expected to close on March 13, 2018, subject to customary closing conditions. The Company intends to use the net proceeds from the offering to fund the redemption of its 7.375% Notes due May 15, 2021, to make investments relating to its business and for general corporate purposes.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Arbor Realty Trust, Inc., 7.375% Senior Notes due 2021, issued in $25 denominations, redeemable at the issuer's option on or after 5/15/2017 at $25 per note plus accrued and unpaid interest, and maturing 5/15/2021. Interest distributions of 7.375% per annum ($1.84375 per annum or $0.460938 per quarter) will be paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date that will be 2/1, 5/1, 8/1 & 11/1 respectively (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Upon a Fundamental Change, the issuer will be required to make an offer to repurchase all outstanding notes at a repurchase price in cash equal to 101% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but not including, the repurchase date (see prospectus for further information). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was not rated by Moody’s or S&P at the time of its IPO. The Notes are unsecured and unsubordinated obligations of the company and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (ABR)
IPO - 5/7/2014 - 2.20 Million Notes @ $25.00/note.
Link to IPO Prospectus
Market Value $54.7 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 333 Earle Ovington Blvd., Uniondale, NY 11553 |
| Main Phone Number |
516-506-4200 |
| Fax Number |
Not Available |
| Investor Contact (CFO)
Paul Elenio
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516-506-4200
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| CEO - Ivan Kaufman |
CFO - Paul Elenio |
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