Arbor Realty Trust raised $375 million through a private offering of 6.25% Convertible Senior Notes due 2029 and executed a prepaid forward stock purchase tied to the deal. The notes, led by J.P. Morgan Securities as representative of the initial purchasers, carry an initial conversion rate of 164.0016 shares per $1,000 (about $6.10 per share) and mature on July 1, 2029. Proceeds will fund share repurchases, a $102.7 million prepaid forward for 18,941,200 shares, and the full redemption of $270 million 4.50% Senior Notes due 2026, with any remaining funds for general corporate purposes. The prepaid forward is a separate transaction intended to help manage share count and potential dilution.
Agreement 1: Arbor Realty Trust Prices $375 Million 6.25% Convertible Notes Due 2029 to Refinance Debt
- Agreement type: 6.25% Convertible Senior Notes due 2029 offering and purchase agreement
- Counterparty: J.P. Morgan Securities, as representative of the initial purchasers
- Signed / Effective: Jul 06 2026 / same
- Duration / Termination: 3 years, maturing Jul 1 2029
- Reason: Refinance 2026 notes and support general corporate purposes
Agreement 2: Arbor Realty Trust Enters Prepaid Forward for 18.94M Shares Tied to Convertible Notes Offering
- Agreement type: Prepaid forward stock purchase transaction
- Counterparty: Forward Counterparty
- Signed / Effective: Jun 30 2026 / Jul 06 2026
- Duration / Termination: N/A
- Reason: Reduce share count and offset potential conversion dilution
Original SEC Filing:
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