7/4/2025
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mREIT New York Mortgage Trust (NYMT) has announced they will be selling a new issue of Senior Notes with a maturity date in 2030.
This will be the 3rd issue that the company has outstanding–all sold in the last 13 months.
This is following a trend for mREITs to sell only baby bonds instead of preferred shares–
The preliminary prospectus can be read here.
Thanks to J for spotting this and for jerrymac who chimed in with ‘yield talk’ in the 9.875% area.
Mortgage REIT PennyMac Investment Trust (PMT) has priced a new issue of senior notes.
The issue prices at 9% for 4 million shares (bonds) which have a maturity date of 6/15/2030.
PMT has 2 other senior note issues with coupons of 8.50% and 9% respectively show below-
Asset manager KKR & Co has priced their previously announced baby bonds.
The issue prices at 6.875% and have a maturity date of 6/1/2065.
This is an investment grade issue from S&P and Fitch, although the company has the right to defer interest payments for 5 consecutive years without a default being declared.
KKR & Co has announced they will be selling a new issue of $25 baby bonds.
The issue will have a maturity date way out in 2065 with early redemption available in 2030.
The company will have the right to defer interest payments for up to 5 years consecutive years without a default being declared.
The preliminary prospectus can be read here.
Thanks to Vito for catching this one. Also Jerrymac chimed in with yield talk in the 7-7.125% area.
Mortgage REIT Angel Oak (AOMR) has announced pricing on their new issue of $25 notes and it is a super high yield of 9.75%.
There is no OTC trading of baby bonds prior to exchange listing
