Redwood Trust to raise $150M via convertible notes

Redwood Trust Inc., a specialty finance company headquartered in Mill Valley, California, plans to raise $150 million through a private placement of convertible senior notes due in 2030. The offering will be conducted pursuant to Rule 144A and is targeted at qualified institutional buyers, with initial purchasers granted an option to buy an additional $22.5 million within 13 days of issuance. The notes will be senior unsecured obligations, with interest rates and pricing to be finalized through negotiations with investors. The offering remains unregistered under the Securities Act of 1933.