Ladder Announces Pricing of $500 Million Senior Notes due 2022
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 $500 million in
aggregate principal amount of 5.250% senior notes due 2022 (the “Senior Notes”). The sale of the Senior Notes is expected to be
completed on or about March 16, 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 of the offering to redeem the Issuers’ remaining outstanding 7.375% senior notes due
2017 (the “2017 Notes”), to pay offering related expenses and for general corporate purposes, including repayment of secured
debt.
The Issuers have delivered a notice of conditional full redemption to holders of the 2017 Notes, pursuant to which the Issuers
will redeem all outstanding 2017 Notes at 100% of the principal amount thereof (plus any accrued and unpaid interest to the
redemption date) on April 1, 2017. The redemption is conditioned on the completion by the Issuers of a senior notes offering with
gross proceeds of not less than $500 million. The Company’s offering of Senior Notes is expected to satisfy this condition.
The Senior Notes are being offered in the United States 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 and the notes redemption, 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.
Ladder Capital Corp Investor Relations
917-369-3207
investor.relations@laddercapital.com
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