Arbor Realty Trust made its second play this week for additional cash. The company recently announced that it closed its private placement to eligible purchasers of $25 million in aggregate principal amount of 5.625% senior unsecured notes due May 1, 2023 at 99.445%.
According to its release, Arbor will use the proceeds from this transaction for investments and general corporate purposes. This release came out hours after a similar release announcing a public offering of 5.5 million shares worth roughly $51.3 million.
Both releases indicate that the money Arbor is seeking to raise will be used for investments and general corporate purposes.
Sandler O’Neill + Partners was the initial purchaser of this most recent offering.