Thornburg Prices $100M of Preferred Stock

November 17, 2006, 3:00 p.m. EST 1 Min Read

Thornburg Mortgage Inc., a lender based in Santa Fe, N.M., has priced 4.0 million shares of series D adjusting rate cumulative redeemable preferred stock at $25 per share.The real estate investment trust said the dividend will be fixed at 7.875% until Jan. 12, 2012, and will float quarterly thereafter at 268 basis points above the three-month London interbank offered rate. The joint book-running managers of the offering were Stifel, Nicolaus & Co. and Bear, Stearns & Co. The REIT can be found online at http://www.thornburgmortgage.com.

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