Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Terra Income Fund 6, LLC > News item |
Terra Property Trust to repurchase 6%, 7% notes due 2026
By William Gullotti
Buffalo, N.Y., Oct. 6 – Terra Property Trust, Inc., after completing its Oct. 1 merger with Terra Income Fund 6, Inc., announced the intent to repurchase certain 6% and 7% notes due 2026, according to a press release on Thursday.
Both indicated buybacks will be made on the open market based upon market conditions, note prices, legal requirements and other factors.
Terra Property’s $25-par 6% notes, listed on the New York Stock Exchange under the symbol “TPTA” were initially sold June 10, 2021 for a total of $78.5 million and mature June 30, 2026.
Terra Income’s $34.75 million of $25-par 7% notes, listed on the New York Stock Exchange under the symbol “TFSA,” were initially sold Feb. 10, 2021 and mature March 31, 2026.
Terra Income Fund 6, LLC, as successor obligor for the TFSA notes, is a wholly owned subsidiary of Terra Property and will conduct the repurchase transactions for those notes.
In both cases, the intended buybacks will take place ahead of each series’ first call date.
The real estate investment manager is based in New York City.
© 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.