Arbor Realty sets 4.75% notes' initial conversion rate

Nov. 08, 2019 4:50 PM ETArbor Realty Trust, Inc. (ABR)ABRBy: Liz Kiesche, SA News Editor3 Comments
  • The initial conversion rate of Arbor Realty Trust's (NYSE:ABR) $230M of 4.75% convertible senior notes due 2022 is 56.1695 shares of common stock per $1,000 principal amount.
  • The rate is equivalent to an initial conversion price of ~$17.80 per share of common stock, representing ~15% conversion premium based on the average VWAP of Arbor's common stock on Nov. 7 and Nov. 8 of $15.4811 per share.

Recommended For You

Comments (3)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.