PennyMac Mortgage Investment Trust Announces Proposed Private Placement of Exchangeable Senior Notes
PennyMac Mortgage Investment Trust (NYSE: PMT) (PMT or the Company) today announced that its indirect wholly-owned subsidiary, PennyMac Corp., plans to make a private offering of $200 million aggregate principal amount of its Exchangeable Senior Notes due 2026 (the Notes).
- PennyMac Mortgage Investment Trust (NYSE: PMT) (PMT or the Company) today announced that its indirect wholly-owned subsidiary, PennyMac Corp., plans to make a private offering of $200 million aggregate principal amount of its Exchangeable Senior Notes due 2026 (the Notes).
- The Notes will be fully and unconditionally guaranteed by PMT and exchangeable for cash, PMTs common shares of beneficial interest (Common Shares) or a combination thereof, at PennyMac Corp.s election.
- The Notes will be PennyMac Corp.s senior unsecured obligations and will rank equally with all of its present and future senior unsecured debt and senior to any future subordinated debt.
- PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets.