debt
confidence high
sentiment neutral
materiality 0.50
AG Mortgage Investment Trust closes $65M offering of 9.500% Senior Notes due 2029
TPG Mortgage Investment Trust, Inc.
- Closed $65M public offering of 9.500% Senior Notes due May 15, 2029; net proceeds ~$62.4M.
- Combined proceeds from this offering and January 2024 notes exceed $86.3M of Convertible Notes due Sept 2024.
- Intends to use proceeds for general corporate purposes including acquisition of Residential Investments and RMBS, and repayment of existing debt.
- Notes are senior unsecured obligations, redeemable at option on or after May 15, 2026 at 100% of principal plus accrued interest.