Company: WAL-PA
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001628280-25-047883
Chunk: 97

Company: WESTERN ALLIANCE BANCORPORATION
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 97
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 and (for modifications) the current interest of the notes in reverse order of class priority. Losses on residential mortgages have not generally been significant. Monthly principal payments on the notes are based on the principal payments of the underlying mortgages.The Company's outstanding credit linked note issuances are detailed in the tables below:September 30, 2025DescriptionIssuance DateMaturity DateInterest RatePrincipalUnamortized Debt Issuance Costs(in millions)Residential mortgage loans (1)December 12, 2022October 25, 2052SOFR + 7.80%$82 $2 Residential mortgage loans (2)June 30, 2022April 25, 2052SOFR + 6.00%163 3 Residential mortgage loans (3)December 29, 2021July 25, 2059SOFR + 4.67%170 2 Total$415 $7 December 31, 2024DescriptionIssuance DateMaturity DateInterest RatePrincipalUnamortized Debt Issuance Costs(in millions)Residential mortgage loans (1)December 12, 2022October 25, 2052SOFR + 7.80%$84 $2 Residential mortgage loans (2)June 30, 2022April 25, 2052SOFR + 6.00%170 3 Residential mortgage loans (3)December 29, 2021July 25, 2059SOFR + 4.67%180 2 Total$434 $7 (1)    There are multiple classes of these notes, each with an interest rate of one-month SOFR plus a spread that ranges from 2.25% to 11.00% (or, a weighted average spread of 7.80%) on a reference pool balance of $1.6 billion and $1.7 billion as of September 30, 2025 and December 31, 2024, respectively.(2)    There are multiple classes of these notes, each with an interest rate of one-month SOFR plus a spread that ranges from 2.25% to 15.00% (or, a weighted average spread of 6.00%) on a reference pool balance of $3.2 billion and  $3.4 billion as of September 30, 2025 and December 31,