NEW YORK--(BUSINESS WIRE)--
Ladder Capital Corp (“Ladder” or the “Company”) (NYSE:LADR) announced
today that its subsidiaries, Ladder Capital Finance Holdings LLLP and
Ladder Capital Finance Corporation (collectively, the “Issuers”), have
priced an offering of $400 million in aggregate principal amount of
5.250% senior notes due 2025 (the “Senior Notes”). The sale of the
Senior Notes is expected to be completed on or about September 25, 2017,
subject to customary closing conditions. The Senior Notes will be senior
unsecured obligations of the Issuers and will be guaranteed by the
Company and certain of its subsidiaries.
The Company intends to use the net proceeds from the offering to repay
existing secured debt, to pay offering related expenses and for general
corporate purposes.
The Senior Notes are being offered to 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 Senior 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 Senior Notes, nor a solicitation for an offer to
purchase the Senior Notes.
About Ladder
Ladder is an internally-managed real estate investment trust that is a
leader in commercial real estate finance. Ladder originates and invests
in a diverse portfolio of commercial real estate and real estate-related
assets, focusing on senior secured assets. Ladder’s investment
activities include: (i) direct origination of commercial real estate
first mortgage loans; (ii) investments in investment grade securities
secured by first mortgage loans on commercial real estate; and (iii)
investments in net leased and other commercial real estate equity.
Founded in 2008, 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. Led by Brian Harris, the Company’s
Chief Executive Officer, Ladder is headquartered in New York City and
has branches in Los Angeles and Boca Raton.
Forward-Looking Statements
Certain statements in this release, including those relating to the
offering, may constitute “forward-looking” statements. 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 and events could differ materially
from those stated, anticipated or implied by such forward-looking
statements. While the Company 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. 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, the
risks discussed under the heading “Risk Factors” in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2016, 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. The Company 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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Ladder Capital Corp Investor Relations
917-369-3207
investor.relations@laddercapital.com
Source: Ladder Capital Corp