New Issue: American Home raises $125 million convertible trust preferreds

By Sheri Kasprzak

New York, July 2 - American Home Mortgage Investment Corp. sealed a $125 million private placement of convertible trust preferred securities with funds managed by Marathon Asset Management, LLC.

The 9.75% trust preferred securities are convertible into common shares at $25.57 each.

Based in Melville, N.Y., American Home Mortgage is a real estate investment trust focused on residential mortgage loans.

Issuer:	American Home Mortgage Investment Corp.
Issue:	Convertible trust preferred securities
Amount:	$125 million
Maturity:	July 1, 2037
Coupon:	9.75%
Price:	Par
Yield:	9.75%
Conversion price:	$25.57
Warrants:	No
Investor:	Funds managed by Marathon Asset Management, LLC
Settlement date:	June 28
Stock symbol:	NYSE: AHM
Stock price:	$20.91 at close June 28

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