Terra Property Trust completes exchange of 6% notes for 11% secured notes; obtains $25M term loan

Terra Property Trust, Inc.

Exchanged $36.2M of 6.00% Senior Notes due 2026 for $27.2M of new 11.00% Senior Secured Notes due 2027 plus cash.
Repaid remaining outstanding principal of TPTA Notes on June 30, 2026.
Borrowed $25M term loan from Strategic Yieldco LLC at 11.00% interest, maturing Dec 29, 2027, with 4% upfront fee.
New notes mature July 1, 2027, interest payable monthly, redeemable at 102% under certain conditions.

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