Company: MFAN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001055160-25-000007
Chunk: 107

Company: MFA FINANCIAL, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 107
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2025 and December 31, 2024, respectively. 

31  

Table of ContentsMFA FINANCIAL, INC.NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTSMARCH 31, 2025

The following table presents repricing information (excluding the impact of associated derivative hedging instruments, if any) about the Company’s financing agreements that have non-mark-to-market collateral provisions as well as those that have mark-to-market collateral provisions, at March 31, 2025 and December 31, 2024:   March 31, 2025December 31, 2024Amortized Cost BasisWeighted Average Interest RateAmortized Cost BasisWeighted Average Interest RateTime Until Interest Rate Reset(Dollars in Thousands)    Within 30 days$3,310,614 5.50 %$3,177,822 5.85 %Over 30 days to 3 months— — — — Over 3 months to 12 months— — — — Over 12 months— — — — Total financing agreements$3,310,614 5.50 %$3,177,822 5.85 %(a)    Other Information on Financing AgreementsConvertible Senior Notes In June 2019, the Company issued $230.0 million in aggregate principal amount of its Convertible Senior Notes in an underwritten public offering.  The total net proceeds the Company received from the offering were approximately $223.3 million, after deducting offering expenses and the underwriting discount.  The Convertible Senior Notes bore interest at a fixed rate of 6.25% per year.  The Convertible Senior Notes were convertible at the option of the holders at any time until the close of business on the business day immediately preceding the maturity date into shares of the Company’s common stock based on a conversion rate of 31.4346 shares (which reflected an adjustment resulting from the Company’s Reverse Stock Split) of the Company’s common stock for each $1,000 principal amount of the Convertible Senior Notes, which is equivalent to a conversion price of approximately $31.81 per share of common stock.  The Convertible Senior Notes had an effective interest rate, including the impact of amortization to interest expense of debt issuance costs, of 6.94%.  During the three months ended June 30