Chimera Investment Corporation Issues $120 Million in Senior Notes

Chimera Investment Corporation completed the issuance and sale of $120 million aggregate principal amount of its 8.875% Senior Notes due 2030. The Notes were sold in a public offering under the company's registration statement on Form S-3. The Notes bear interest at a rate of 8.875% per year, payable quarterly, and are expected to mature on August 15, 2030. The company may redeem the Notes in whole or in part at any time on or after August 15, 2027. The net proceeds from the offering, after deducting underwriting discounts and commissions, are approximately $115.8 million. The company intends to use the proceeds to finance the acquisition of mortgage assets and for other general corporate purposes, including repayment of outstanding indebtedness.