Portland, Ore., Aug. 9 – Acres Commercial Realty Corp. priced a $150 million issue of five-year senior bullet notes at par to yield 5¾% on Monday, according to a market source.
Raymond James & Associates was the lead.
Proceeds will be used for general corporate purposes.
The issuer is a Westbury, N.Y.-based real estate investment trust primarily focused on commercial real estate.
| Issuer: | Acres Commercial Realty Corp.
|
| Amount: | $150 million
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| Tenor: | Five years
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| Securities: | Senior notes
|
| Lead: | Raymond James & Associates
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| Coupon: | 5¾%
|
| Price: | Par
|
| Yield: | 5¾%
|
| Call protection: | Non-callable
|
| Trade date: | Aug. 9
|
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