Thornburg Completes Private Placement

Thornburg Mortgage Inc., Santa Fe, N.M., has completed a $140 million issuance of 30-year unsecured junior subordinated notes in a private placement.The notes bear interest at 7.40% for the first 10 years, and thereafter at a variable rate equal to the London interbank offered rate plus 2.65%, Thornburg said. Net proceeds from the transaction will be used mainly to fund mortgage loans originated by the company and to buy additional adjustable-rate mortgage securities, the company said. Thornburg can be found online at http://www.thornburgmortgage.com.