Two Harbors to raise conversion rate for 6.25% convertibles due 2022

By Wendy Van Sickle

Columbus, Ohio, March 29 – Two Harbors Investment Corp. announced an increase to the conversion rate for its 6.25% convertible senior notes due 2022, according to a press release.

Effective immediately after close of business on March 31, the conversion rate for the notes will rise to 100.1049 shares of common stock per $1,000 principal amount of notes from 100.00 shares per $1,000 principal.

The conversion rate adjustment is the result of the company’s first-quarter common stock cash dividend of $0.25 per common share.

Two Harbors is a New York-based real estate investment trust that invests in residential mortgage-backed securities, mortgage servicing rights, commercial real estate and other financial assets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.