Company: CIMO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001628280-25-038345
Chunk: 184

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 184
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 had a net realized loss of $4 million during the six months ended June 30, 2024 which was primarily driven by our sales of Agency CMBS investments as a part of our portfolio optimization efforts. 

59

Gain and Loss on Extinguishment of Debt

When we acquire our outstanding securitized debt, we extinguish the outstanding debt and recognize a gain or loss based on the difference between the carrying value of the debt and the cost to acquire the debt which is reflected in the Consolidated Statements of Operations as a gain or loss on extinguishment of debt. 

Securitized Debt Collateralized by Non-Agency RMBS

We did not acquire any securitized debt collateralized by Non-Agency RMBS during the quarters ended June 30, 2025 and March 31, 2025 and during the six months ended June 30, 2025 and June 30, 2024.

Securitized Debt Collateralized by Loans Held for Investment

We did not acquire any securitized debt collateralized by loans held for investment during the quarter ended June 30, 2025 and during the quarter and six months ended June 30, 2024. We acquired securitized debt collateralized by Loans held for investment with an amortized cost balance of $314 million for $312 million during the six months ended June 30, 2025. 

Long Term Debt Expense

During the second quarter of 2024, we issued $65 million aggregate principal amount of 9.00% unsecured senior notes due 2029 that pay quarterly interest. After deducting the underwriting discount and other debt issuance costs, we received approximately $63 million of proceeds.

During the third quarter of 2024, we issued $75 million aggregate principal amount (including the additional amount

issued pursuant to the exercise of the over-allotment option) of 9.25% unsecured senior notes due 2029 that pay quarterly interest. After deducting the underwriting discount and other debt issuance costs, we received approximately $72 million of proceeds.

At June 30, 2025, the outstanding principal amount of these notes was $140 million and the accrued interest payable on this debt was $2 million. At June 30, 2025, the unamortized deferred debt issuance cost was $5 million. The net interest expense was $3 million and $7 million for the quarter and six months ended June 30,