Company: CIMO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038345
Chunk: 199

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 199
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 This cash used was offset in part by net proceeds provided by our secured financing agreements of $276 million and cash provided by the issuance of unsecured notes of $62 million.

Our recourse leverage increased at June 30, 2025 to 1.8:1  as compared to 1.2:1 at December 31, 2024. This increase was primarily driven by higher borrowings under secured financing agreements to finance our Agency RMBS purchases. Our recourse leverage excludes the securitized debt which can only be repaid from the proceeds on the assets securing this debt in 

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their respective VIEs. Our recourse leverage is presented as a ratio of our secured financing agreements and long term debt, which are recourse to our assets and our equity. 

Based on our current portfolio, leverage ratio and available borrowing arrangements, we believe our assets will be sufficient to enable us to meet anticipated short-term liquidity requirements. However, if our cash resources are insufficient to satisfy our liquidity requirements, we may sell additional investments, reduce our dividends, or issue debt or additional common or preferred equity securities to meet our liquidity needs. As of June 30, 2025 and December 31, 2024, we had $311 million and $526 million of unencumbered assets available to us which can be pledged to access additional short-term financing or sold to raise additional cash, if necessary.

At June 30, 2025 and December 31, 2024, the remaining maturities and borrowing rates on our RMBS and loan secured financing agreements were as follows.

 June 30, 2025December 31, 2024 (dollars in thousands)Principal (1)Weighted Average Borrowing RatesRange of Borrowing RatesPrincipalWeighted Average Borrowing RatesRange of Borrowing RatesOvernight$— —N/A$— —N/A1 to 29 days2,334,912 4.68%4.47% - 7.18%642,358 5.61%4.66% - 7.52%30 to 59 days376,179 6.21%5.08% - 6.83%959,559 7.79%5.34% - 12.50%60 to 89 days296,139 5.35%4.72% - 6.54%318,750 5.58% 4.87% - 7.