Company: RWT-PA
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000930236-25-000037
Chunk: 281

Company: REDWOOD TRUST INC
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 281
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3) (5)312,85912,859(6)7.06 %N/A(7)5.75% exchangeable senior notes (3)1123,574123,087(6)5.75 %10/2025(7)7.75% convertible senior notes (3)1247,170242,652(6)7.75 %6/2027(7)Trust preferred securities and subordinated notes2139,500138,860(6)7.10 %1/2037, 7/2037(7)9.125% Senior Notes (3)160,00057,877(6)9.13 %3/2029(7)9.0% Senior Notes (3)185,00082,112(6)9.00 %9/2029(7)Total Debt Obligations$3,482,175 $3,462,880 $3,701,592 (1)Carrying value presented net of total deferred issuance costs of $17 million and $20 million at September 30, 2025 and December 31, 2024, respectively.(2)Variable rate borrowings are based on 1- or 3-month SOFR, plus an applicable spread.(3)Borrowing has a fixed interest rate at period end.(4)Facility may be extended for one year at our option.(5)Promissory notes payable on demand to lender with 90-day notice.(6)Outstanding principal balance represents facility capacity at period end.(7)Unsecured corporate debt; no related collateral at period end.In January 2025, Redwood issued $90 million of 9.125% Senior Notes due in 2030. The Senior Notes are senior unsecured obligations of Redwood and bear interest at a rate equal to 9.125% per year, payable quarterly in arrears on March 1, June 1, September 1 and December 1 of each year, beginning on June 1, 2025. The Senior Notes mature on March 1, 2030. We may redeem the Senior Notes, in whole or in part, at any time on or after March 1, 2027 at a redemption price equal to 100% of the principal amount redeemed plus accrued and unpaid interest.In June 2025, we entered into a new recourse subordinate securities financing facility providing