Ladder Capital (LADR) Prices $500M Notes Offering

Ladder Capital Corp (NYSE: LADR) announced today that its subsidiaries, Ladder Capital Finance Holdings LLLP (the “Issuer”) and Ladder Capital Finance Corporation (the “Co-Issuer” and collectively with the Issuer, the “Issuers”), have priced a private offering of $500 million in aggregate principal amount of 7.000% Senior Notes due 2031 (the “Notes”). The sale of the Notes is expected to be completed on or about July 5, 2024, subject to customary closing conditions. The Notes will be the Issuers’ senior unsecured obligations and will be guaranteed on a senior unsecured basis by the Company and each of the Issuers’ wholly owned domestic subsidiaries that guarantees the Issuers’ outstanding notes.

The Issuers intend to use a portion of the net proceeds of this offering to repay certain existing secured indebtedness, with the remaining net proceeds to be used for general corporate purposes. Moody’s Ratings has affirmed the Ba1 long-term corporate family rating of the Company with outlook revised to positive and upgraded the backed senior unsecured notes ratings of the Issuer to Ba1. Fitch Ratings affirmed the long-term issuer default ratings and senior unsecured debt ratings of the Issuers at BB+ and revised the rating outlook to positive. S&P Global Ratings raised its issuer credit and issue ratings on the Issuer and the Issuer’s senior unsecured notes to BB with a stable outlook.

The Notes were 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 to non-U.S. persons 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.

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