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Arbor Realty Trust closes sale of $25M in senior unsecured notes

Company makes its second play this week for additional cash

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.

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