RAIT’s $70 million of 7.125% $25-par notes due 2019 admitted to NYSE

By Stephanie N. Rotondo

Phoenix, Aug. 22 – RAIT Financial Trust’s $70 million of 7.125% $25-par senior notes due Aug. 30, 2019 began trading on the New York Stock Exchange on Friday.

The deal priced Aug. 11. The ticker symbol is “RFTA.”

Deutsche Bank Securities Inc., Barclays, Keefe Bruyette & Woods and Credit Suisse Securities (USA) LLC were the joint bookrunners. Senior co-managers were Ladenburg Thalmann, MLV & Co. LLC and William Blair & Co.

Interest is payable on the last day of February, May, August and November, beginning Nov. 30. The notes cannot be called until Aug. 30, 2017.

The redemption price is par plus accrued interest.

The company can also redeem the notes upon a fundamental change at 101% of par plus accrued interest.

The Philadelphia-based real estate investment trust will use the proceeds for working capital and general trust purposes.

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