REDWOOD TRUST INC (RWT): debt financing — Redwood Trust completes $60M offering of 9.125% senior notes due 2029

REDWOOD TRUST INC

Net proceeds ~$57.5M; for general corporate purposes including debt repurchase and business funding.
Notes bear 9.125% interest payable quarterly; mature March 1, 2029.
Senior unsecured; effectively subordinated to secured debt and structurally subordinated to subsidiary creditors.
Redeemable at par plus accrued interest on/after March 1, 2026; change-of-control trigger at 101% of principal.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

REDWOOD TRUST INC incurred senior notes of $60.0 million aggregate principal amount with Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Keefe, Bruyette & Woods, Inc. at 9.125% per year maturing March 1, 2029.

Instrument: senior notes
Principal: $60.0 million aggregate principal amount
Counterparty: Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Keefe, Bruyette & Woods, Inc.
Rate: 9.125% per year
Maturity: March 1, 2029
Event: incurrence

Exact text from the filing

On January 22, 2024, Redwood Trust, Inc. (the “Company”) completed its registered underwritten public offering of $60.0 million aggregate principal amount of the Company’s 9.125% Senior Notes due 2029 (the “Notes”)

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

REDWOOD TRUST INC entered into Underwriting Agreement with Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Keefe, Bruyette & Woods, Inc. valued at $60.0 million (effective 2024-01-22).

Action: entry
Agreement: underwriting
Counterparty: Wells Fargo Securities, LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Keefe, Bruyette & Woods, Inc.
Value: $60.0 million
Effective: 2024-01-22

Exact text from the filing

On January 22, 2024, Redwood Trust, Inc. (the “Company”) completed its registered underwritten public offering of $60.0 million aggregate principal amount of the Company’s 9.125% Senior Notes due 2029 (the “Notes”) pursuant to an underwriting agreement (the “Underwriting Agreement”) with Wells Fargo Securities, LLC (“Wells Fargo”), Goldman Sachs & Co. LLC (“Goldman”), Morgan Stanley & Co. LLC (“Morgan Stanley”), RBC Capital Markets, LLC (“RBC”) and Keefe, Bruyette & Woods, Inc. (“KBW”), as representatives of the several underwriters named therein (the “Offering”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

REDWOOD TRUST INC entered into Supplemental Indenture with Wilmington Trust, National Association (effective 2024-01-22).

Action: entry
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Effective: 2024-01-22

Exact text from the filing

the fourth supplemental indenture dated as of January 22, 2024, between the Company and the Trustee (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”).

View on SEC.gov

283 debt financings filed in the last 30 days. Browse all debt financings →

REDWOOD TRUST INC filing history →

Source: SEC EDGAR

accession 0001104659-24-005585

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.