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Arbor Realty Trust to offer convertible senior notes

Arbor RealtyTrust Inc. intends to offer $75 million of its convertible seniornotes due 2019 in an underwritten public offering.

The company plans to grant the underwriters a 30-day option topurchase up to about $11.3 million of additional notes to cover anyoverallotments. The notes will pay interest semiannually and are expected tomature Oct. 1, 2019, unless earlier converted or repurchased. The company willnot have the right to redeem the notes prior to maturity. The notes will beconvertible into cash, company common shares or a combination thereof, at thecompany's sole election.

Arbor Realty intends to use the net proceeds from theoffering to make investments relating to its business and for general corporatepurposes.

J.P. Morgan Securities LLC, JMP Securities LLC and Bank ofAmerica Merrill Lynch are joint book-running managers for the offering.