Terra Property Trust, Inc. announced the final results of its exchange offers and consent solicitation for its existing senior notes. The offers resulted in partial tenders for two note series, but the proposed amendments to the TPT Notes indenture did not receive sufficient consents and will not become effective.
Key takeaways
Terra Property Trust announced final results of exchange offers and consent solicitation on March 27, 2026.
The company offered to exchange TPT 6.00% Senior Notes due June 30, 2026 and TIF6 7.00% Senior Notes due March 31, 2026 for new secured 7.00% Senior Notes due March 31, 2029.
$24,027,025 (29.89%) of TPT Notes and $1,550,975 (4.04%) of TIF6 Notes were tendered as of the March 26, 2026 expiration date.
The company did not receive valid consents from holders of the requisite majority of TPT Notes, so proposed amendments to the TPT Notes indenture will not become effective.
Ladenburg Thalmann & Co. Inc. served as dealer manager and solicitation agent; D.F. King & Co., Inc. served as exchange agent and information agent.
The exchange offers are subject to conditions set forth in the prospectus that forms part of Registration Statement File No. 333-293479.