AG Mortgage Investment Trust prices $65M of 9.5% Senior Notes due 2029

TPG Mortgage Investment Trust, Inc.

Priced $65M aggregate principal amount of 9.500% Senior Notes due 2029; offering closes May 15, 2024.
Combined with $34.5M February 2024 issuance, total proceeds exceed $86.3M of 6.75% Convertible Notes due Sept 2024.
Underwriters include Morgan Stanley, RBC, UBS, Wells Fargo, KBW, and Piper Sandler.
Proceeds will repay convertible notes assumed from Western Asset Mortgage Capital acquisition in Dec 2023.
Notes are senior unsecured obligations; coupon 9.5% payable semi-annually, maturing May 2029.

Key facts

Extracted from this filing and checked against the source text.

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

TPG Mortgage Investment Trust, Inc. entered into Underwriting Agreement with Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, UBS Securities LLC, Wells Fargo Securities, LLC, Keefe, Bruyette & Woods, Inc. and Piper Sandler & Co. valued at $65.0 million aggregate principal amount (effective 2024-05-08).

Action: entry
Agreement: underwriting
Counterparty: Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, UBS Securities LLC, Wells Fargo Securities, LLC, Keefe, Bruyette & Woods, Inc. and Piper Sandler & Co.
Value: $65.0 million aggregate principal amount
Effective: 2024-05-08

Exact text from the filing

the Company entered into an underwriting agreement (the “Underwriting Agreement”), dated as of May 8, 2024, by and among the Company and AG REIT Management, LLC and Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, UBS Securities LLC, Wells Fargo Securities, LLC, Keefe, Bruyette & Woods, Inc. and Piper Sandler & Co., as underwriters (collectively, the “Underwriters”), whereby the Company agreed to sell to the Underwriters and the Underwriters agreed to purchase from the Company, subject to and upon the terms and conditions set forth in the Underwriting Agreement, the Notes.

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TPG Mortgage Investment Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001514281-24-000089

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