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mREIT PennyMac Mortgage to Sell New Baby Bond

Mortgage REIT PennyMac Mortgage Investment Trust (PMT) has announced they will be selling a new Senior Note offering with maturity in 2030.

PMT has a number of outstanding preferreds and senior notes which can be seen here.

The preliminary prospectus is here.

Thanks to J for being on top of this one and for EarlyBird for chiming in on ‘yield talk’ (in the 9-9.125% area).

New York Mortgage Trust Prices New Senior Notes (Baby Bonds)

Mortgage REIT New York Mortgage Trust (NYMT) has priced their new issuance of Senior Notes ($25/bond) at a coupon of 9.125%.

The issue matures in 2030–so with the short duration the share price should remain more stable than a very long dated maturity issue.

NYMT has many outstanding issues of baby bonds and preferred stock which can be seen here. The company sold a 9.125% baby bond in June which is trading at $25.08.

The pricing term sheet can be read here.

mREIT New York Mortgage Trust to Sell New Baby Bond

New York Mortgage Trust (NYMT) has announced they will be selling a new issue of baby bonds ($25 notes) with a maturity date in 2030.

The issue will trade on NASDAQ under ticker NYMTG when it begins to trade in a week or two (exact date can not be known).

NYMT has a number of currently outstanding issue (notes and preferreds) which can be seen here.

The preliminary prospectus can be reviewed here.

Thanks to mbg for posting this one. Jerrymac has chimed in with 9.125% yield talk.

F&G Annuities and Life Prices Baby Bond

F&G Annuities and Life (FG) has priced their previously announced baby bond with a coupon of 7.30%.

This is a large issue of $375 million (15 million shares (bonds).

The issue is rated a notch or 2 under investment grade by the major ratings agencies.

It will be a week or 10 days before this issue begins to trade on the NYSE.

The pricing term sheet is here.