Arbor Realty Trust Announces New Preferred Stock Pricing

mREIT Arbor Realty Trust (ABR) has announced the pricing on their new fixed-to-floating rate perpetual preferred stock issue.

The company has sold 7 million shares with another 1.05 million available for over allotment with an initial coupon of 6.25%.

The official SEC pricing term sheet has not yet been filed (as of 6:20 pm central time).

Full details will be posted when they are available.

The company press release can be found here.

5 thoughts on “Arbor Realty Trust Announces New Preferred Stock Pricing”

  1. This FTF has a floor – floats to expected benchmark of 3-mo SOFR + spread of 5.442%, but minimum float of 6.125%.

    From the FWP:

    … and (ii) from and including October 30, 2026 (the “Floating Rate Period”), at a floating rate equal to a Benchmark rate, which is expected to be the Three-Month Term SOFR (as defined in the Preliminary Prospectus Supplement), plus a spread of 5.442% per annum of the $25.00 per share liquidation preference (the “Floating Rate”); provided, however, that in no event shall the Floating Rate be lower than 6.125% per annum.

    1. Called TD and requested set up for this and Arbor. Nothing yet.

      By the by, anybody gone down and checked in on Delaware Bob lately?

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