Convertibles Calendar: Sutherland offering $25-par notes

On The Horizon

SUTHERLAND ASSET MANAGEMENT CORP.:

• $100 million of convertible senior notes due 2023

• $15 million over-allotment option

• $25-par paper

• Price talk 6.75%-7%, up 13%

• Keefe Bruyette & Woods Inc. and JMP Securities LLC (bookrunners)

• Compass Point Research & Trading LLC (co-manager)

• Callable after Aug. 15, 2021

• Contingently convertible prior to Feb. 15, 2023

• Proceeds will be used originate or acquire additional mortgage loans and mortgage-related assets consistent with its investment strategy and for general corporate purposes.

• New York-based real estate investment trust

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