Arbor Realty Trust Inc. has closed an offering of $100 million of its 5.625% senior unsecured notes due May 1, 2023, at 99.987% of par, in a private placement.
The company intends to use the net proceeds to fund the redemption of all $97.9 million aggregate principal amount outstanding of its 7.375% notes due May 15, 2021. The payments with respect to the redemption will be made on April 27.
Deutsche Bank Securities Inc. and Sandler O'Neill & Partners LP acted as the initial purchasers for the offering.
