Company: RWT-PA
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000930236-25-000007
Chunk: 137

Company: REDWOOD TRUST INC
Filing Date: 2025-03-03
Form: 10-K
Item: Item 16
Chunk 137
---
4237,973Servicer advance financing1154,369153,653240,0007.71 %12/2024225,345Recourse Subordinate Securities Financings:Sequoia securities (3)1124,552124,552N/A7.21 %9/2024175,096CAFL securities 1 (3)1101,228101,228N/A5.71 %2/2025124,793CAFL securities 2 (3)157,98257,982N/A4.75 %6/2026112,813Long Term Facilities:Residential investor loan warehouse facilities61,023,384 1,021,708 2,350,000 8.14 %3/2025-12/20261,327,907 Corporate Debt:Promissory notes (2) (3)316,06316,064N/A6.97 %N/A— 5.625% convertible senior notes (3)1142,977142,558N/A5.63 %7/2024N/A5.75% exchangeable senior notes (3)1156,666155,138N/A5.75 %10/2025N/A7.75% convertible senior notes (3)1210,910206,032N/A7.75 %6/2027N/ATrust preferred securities and subordinated notes2139,500138,813N/A7.90 %1/2037, 7/2037N/ATotal Debt Obligations$3,249,158 $3,239,123 $3,405,564 (1)Variable rate borrowings are primarily based on 1- or 3-month SOFR, plus an applicable spread.(2)Promissory notes payable on demand to lender with 90-day notice.(3)Borrowing has a fixed interest rate at period end.(4)Carrying value presented net of total deferred issuance costs of $20 million and $11 million at December 31, 2024 and 2023, respectively.In September 2024, we terminated two recourse subordinate financing facilities entered into in 2020 and 2021, and entered into a new recourse subordinate financing facility providing non-marginable debt financing of certain securities retained from our consolidated CAFL securitizations. This financing is fully and unconditionally guaranteed by Redwood, with an interest