Global law firm Clifford Chance advised the initial purchasers in Redwood Trust, Inc.’s (NYSE: RWT) Rule 144A offering of US$205 million aggregate principal amount of 7.00% Convertible Senior Notes due 2030, reflecting the full exercise of the initial purchasers’ option to purchase US$20 million of additional notes. The aggregate principal amount of the offering was increased from the previously announced offering size of US$150 million (or US$172.5 million, assuming full exercise of the initial purchasers’ option).
The Clifford Chance team was led by partners Andrew Epstein (New York) and Om Pandya (Houston) along with capital markets associates Paul Lakkis, Jed Tifft and Leah Rahmani (New York) and associate Sophia Navedo-Quinones (Houston). They were supported on tax matters by partner Michael Seaton and associates Allison Kelly and Maggie Shi (New York), and on derivatives matters by partner Andrew Des Rault and counsel Issac Lee.
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