secwatch.observer — SEC 8-K summary
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Issuer:     Terra Property Trust, Inc. (TPTA)
CIK:        0001674356
Form:       8-K
Filed at:   2026-04-02T23:59:59+00:00
Accession:  0001104659-26-038710
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Terra Property Trust completes exchange of $25.6M in notes due 2026 for 7% secured notes due 2029
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- Exchanged $24.0M of its 6% notes due 2026 and $1.55M of TIF6 7% notes due 3/31/2026 for new 7% secured notes due 2029.
- New notes aggregate $25.6M, secured by equity interests in 18 subsidiaries; interest 7% payable monthly.
- Indenture limits dividends to 90% of taxable income and restricts additional debt unless collateral coverage ratio ≥1.35x.
- Redemption price 101% before Dec 31, 2026; 100% after; no change-of-control put.
- TIF6 repaid remaining TIF6 Notes outstanding balance on March 31, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1674356/000110465926038710/0001104659-26-038710-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1674356/000110465926038710/tm269231d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-038710

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