Redwood Trust Prices $90.0 Million Senior Notes Offering
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Redwood Trust, Inc. has announced the pricing of a $90 million senior notes offering with a 9.125% interest rate, due in 2030. The company has also granted underwriters a 30-day option to purchase an additional $13.5 million in notes to cover over-allotments. The offering is expected to close on January 17, 2025.
January 15, 2025 | 10:30 pm
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Redwood Trust has priced a $90 million senior notes offering at 9.125%, with an option for underwriters to purchase an additional $13.5 million. This move could impact the company's liquidity and financial strategy.
The issuance of senior notes at a high interest rate suggests Redwood Trust is seeking to raise capital, which could be used for growth or debt refinancing. The option for additional notes indicates strong demand. This is likely to positively impact the stock in the short term as it reflects proactive financial management.
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