Arbor Realty Trust plans $125 million three-year convertible notes

By Wendy Van Sickle

Columbus, Ohio, Nov. 7 – Arbor Realty Trust Inc. plans to offer $125 million of convertible senior notes due Nov. 15, 2020, the company said in a press release on Tuesday.

There will be an $18.75 million over-allotment option.

J.P. Morgan Securities LLC, JMP Securities and BofA Merrill Lynch are the joint bookrunners.

The convertibles will be non-callable.

Conversions will be done via the issuance of stock, cash or a combination thereof.

Proceeds will be used to make investments related to the Uniondale, N.Y.-based real estate investment trust’s business and for general corporate purposes. A portion of the proceeds may also be used to repay existing debt.

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