Chimera Investment (CIM) Prices Notes Offering

Chimera Investment Corporation (NYSE: CIM) (the “Company”) announced today the pricing of an underwritten public offering of $65 million aggregate principal amount of its 9.00% senior notes due 2029 (the “Notes”). The Company has granted the underwriters a 30-day option to purchase up to an additional $9.75 million aggregate principal amount of the Notes to cover over-allotments. The offering is expected to close on May 22, 2024, subject to the satisfaction of customary closing conditions.

The Company intends to apply to list the Notes on the New York Stock Exchange under the symbol “CIMN” and, if the application is approved, expects trading in the Notes on the New York Stock Exchange to begin within 30 days after the Notes are first issued.

The Company intends to use the net proceeds of the Notes to finance the acquisition of mortgage assets including residential mortgage loans, non-Agency RMBS, Agency RMBS, Agency CMBS and other targeted assets, and for other general corporate purposes such as repayment of outstanding indebtedness or to pay down other liabilities, working capital and for liquidity needs.

The Notes will be senior unsecured obligations of the Company, and pay interest quarterly in cash on February 15, May 15, August 15 and November 15 of each year, commencing August 15, 2024. The Notes will mature on May 15, 2029, and may be redeemed, in whole or in part, at any time, or from time to time, at the Company’s option on or after May 15, 2026.

Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, UBS Securities LLC, Wells Fargo Securities, LLC, Keefe, Bruyette & Woods, Inc., and Piper Sandler & Co. will serve as joint book-running managers for the offering.

The Notes will be offered under the Company’s existing shelf registration statement filed with the Securities and Exchange Commission. The offering of these Notes will be made only by means of a prospectus and a related prospectus supplement, a copy of which may be obtained by contacting:

Morgan Stanley & Co. LLC
180 Varick St., 2nd Floor, New York, New York 10014
Attn: Prospectus Department
Toll-Free: 1-800-584-6837

RBC Capital Markets, LLC
Brookfield Place, 200 Vesey Street, 8th Floor, New York, NY 10281
Attn: Transaction Management
Email: [email protected]
Toll-Free: 1-866-375-6829

UBS Securities LLC
1285 Avenue of the Americas, New York, New York 10019
Attn: Prospectus Department
Toll-Free: 1-888-827-7275

Wells Fargo Securities, LLC
608 2nd Avenue South, Suite 1000
Minneapolis, MN 55402
Attn: WFS Customer Service
Email: [email protected]
Toll-Free: 1-800-645-3751

Keefe, Bruyette & Woods, Inc.
787 Seventh Avenue, 4th Floor, New York, NY 10019
Attn: Capital Markets
Toll-Free: 1-800-966-1559

Piper Sandler & Co.
1251 Avenue of the Americas, 6th Floor, New York, NY 10020
Attn: Debt Capital Markets
Email: [email protected]

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities, nor shall there be any sale of such Notes or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

You May Also Be Interested In

• Global Water files for expanded water supply in Arizona service areas
• Bonk, Inc. president buys 10,000 more shares in open-market purchase
• Wells Fargo Upgrades Invitation Homes (INVH) to Overweight