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NEW YORK - Chimera Investment Corporation (NYSE:CIM), a $1.14 billion market cap REIT, announced Tuesday it has closed its previously announced underwritten public offering of $120 million aggregate principal amount of 8.875% senior notes due 2030.
The offering includes $5 million issued pursuant to an over-allotment option. The company has received authorization to list the notes on the New York Stock Exchange under the symbol "CIMP" with trading expected to begin on September 18, 2025.
The notes have received an investment grade rating of BBB from Egan-Jones Ratings Company, an independent rating agency.
Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, UBS Investment Bank, Wells Fargo Securities, LLC, Keefe, Bruyette & Woods, Inc., and Piper Sandler & Co. served as joint book-running managers for the offering.
Chimera is a publicly traded real estate investment trust (REIT) that invests primarily in mortgage-related assets. The company invests directly or indirectly, generally on a levered basis, in diversified portfolios including residential mortgage loans, Non-Agency RMBS, Agency RMBS, Agency CMBS, mortgage servicing rights, and other real estate-related assets.
The notes were offered under the company’s existing shelf registration statement filed with the Securities and Exchange Commission.
This article is based on a press release statement from Chimera Investment Corporation.
In other recent news, Chimera Investment Corporation reported its second-quarter 2025 earnings, which fell short of expectations. The company posted an earnings per share (EPS) of $0.39, which was below the anticipated $0.46, resulting in a 15.22% negative surprise. Additionally, revenue reached $67.39 million, missing the forecasted $81.6 million by 17.41%. In another development, Chimera Investment has priced an underwritten public offering of $115 million in 8.875% senior notes due in 2030. The company has also provided underwriters with a 30-day option to purchase up to an additional $17.25 million in notes to cover over-allotments. These notes are expected to be listed on the New York Stock Exchange under the symbol "CIMP," with trading anticipated to start within 30 days post-issuance.
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