Redwood Trust completes $85M public offering of 9.00% Senior Notes due 2029

REDWOOD TRUST INC

Completed $85M public offering of 9.00% Senior Notes due 2029; net proceeds of ~$81.67M after underwriting discounts and expenses.
Underwriters granted 30-day over-allotment option for up to $12.75M additional notes; full exercise would yield ~$94.02M net.
Proceeds for general corporate purposes, including funding mortgage banking, acquiring MBS, and potential repayment of existing debt.
Notes mature Sept 1, 2029, pay quarterly interest at 9.00%, and are redeemable at par on/after Sept 1, 2026.
Notes are senior unsecured, effectively subordinated to secured debt and structurally subordinated to subsidiary creditors.

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