Ladder Announces Launch of $400 Million Senior Notes Offering
Ladder Capital Corp (NYSE: LADR) announced a private offering of $400 million in Senior Notes due 2029. The notes will be unsecured obligations of its subsidiaries, guaranteed by the Company and its domestic subsidiaries. The net proceeds will be utilized for general corporate purposes, including funding new loans and repaying indebtedness. The offering targets qualified institutional buyers under Rule 144A and Regulation S of the Securities Act. Ladder, a commercial real estate investment trust with $5.4 billion in assets, focuses on senior secured assets and aims to deliver risk-adjusted returns.
- Launch of $400 million Senior Notes offering due 2029.
- Proceeds aimed at funding new loans and investments.
- Company maintains a strong asset base of $5.4 billion.
- Notes are unsecured, which may increase financial risk.
- Market factors affecting the offering are uncertain.
Ladder Capital Corp (“Ladder,” the “Company” or “our”) (NYSE: LADR) announced today that its subsidiaries, Ladder Capital Finance Holdings LLLP and Ladder Capital Finance Corporation (collectively, the “Issuers”), have launched a private offering of
The Issuers intend to use the net proceeds from the offering for general corporate purposes. General corporate purposes may include funding our pipeline of new loans, investments in our core business lines and repayments of indebtedness, including potential redemptions of our outstanding notes.
The Notes will be offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell the Notes or a solicitation for an offer to purchase the Notes.
About Ladder
Ladder Capital Corp is an internally-managed commercial real estate investment trust with
Ladder originates and invests in a diverse portfolio of commercial real estate and real estate-related assets, focusing on senior secured assets. Our investment activities include: (i) our primary business of originating senior first mortgage fixed and floating rate loans collateralized by commercial real estate with flexible loan structures; (ii) investing in investment grade securities secured by first mortgage loans on commercial real estate; and (iii) owning and operating commercial real estate, including net leased commercial properties.
Founded in 2008, and led by Brian Harris, the Company’s Chief Executive Officer, Ladder is run by a highly experienced management team with extensive expertise in all aspects of the commercial real estate industry, including origination, credit, underwriting, structuring, capital markets and asset management. Members of Ladder’s management and board of directors are highly aligned with the Company’s investors, owning over
Forward-Looking Statements and Coronavirus Risk
Certain statements in this release may constitute “forward-looking” statements, including those regarding the Notes offering and the intended use of proceeds from the Notes offering. These statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. While Ladder believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors, and, of course, it is impossible to anticipate all factors that could affect actual results, including the impact of the COVID-19 pandemic on the Company’s business. There are a number of risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein including, most prominently, market factors affecting the Notes offering and the risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as well as its consolidated financial statements, related notes, and other financial information appearing therein, and its other filings with the U.S. Securities and Exchange Commission. Such forward-looking statements are made only as of the date of this release. Ladder expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or changes in events, conditions, or circumstances on which any such statement is based.
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