Great Ajax to purchase series A, B preferreds via new notes

By Marisa Wong

Los Angeles, Aug. 26 – Great Ajax Corp. plans to purchase its 7.25% series A and 5% series B fixed-to-floating rate preferred stock at a discount and related warrants held by holders of the outstanding preferreds using proceeds from an offering of new notes, according to an 8-K filing with the Securities and Exchange Commission.

Subsidiary Great Ajax Operating Partnership LP closed a private offering of $110 million of 8.875% senior notes due Sept. 1, 2027 on Friday.

Remaining proceeds from the new notes will be used for general corporate purposes.

Great Ajax is a Beaverton, Ore.-based real estate investment trust.

© 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.