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

By Wendy Van Sickle

Columbus, Ohio, Dec. 27 – Two Harbors Investment Corp. said it will increase the conversion rate for its 6.25% convertible senior notes due 2022.

The new conversion rate for the notes will rise to 62.7673 shares of common stock per $1,000 principal amount from 62.4003 common shares per $1,000 principal amount, effective immediately after the close of business on Monday.

The adjustment is being made as a result of the company’s previously announced fourth-quarter 2018 common stock cash dividend of $0.47 per common share, according to a press release.

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.