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Arbor Realty Trust completes senior notes offering


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Arbor Realty Trust completes senior notes offering

Arbor Realty Trust Inc. has completed the issuance and sale of about $13.8 million of its 6.50% convertible senior notes due Oct. 1, 2019.

The notes are part of the same series of convertible senior notes issued in October 2016. The total outstanding amount of the notes after this latest offering is $100 million. Interest is payable semiannually in arrears on April 1 and Oct. 1 of each year, starting April 1.

Arbor Realty Trust expects the net proceeds from the sale of notes to be approximately $13.4 million, after deducting the underwriter's discounts and commissions and estimated offering expenses. The company plans to use the proceeds to make investments related to its business and for general corporate purposes.

JMP Securities LLC was the sole underwriter on the offering.