Thornburg Mortgage Inc., Santa Fe, N.M., has completed a $50 million add-on offering of senior notes.The issuance is an add-on to $255 million of 8% senior notes issued in May and November of last year. The notes have identical terms to those of the previously issued notes, but will be issued at 107.2 of their principal amount to yield 6.88%, Thornburg said. Net proceeds from the transaction will be used mainly to fund loans originated by the company and to buy additional adjustable-rate mortgage securities, the company said. Thornburg can be found online at http://www.thornburg.com.
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