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Pimco Mortgage Trust Sets Terms Of Ipo, To Raise About $1B

by marketwatch.com posted 2weeks ago 8 views
PIMCO Mortgage Income Trust Inc. has set terms of its initial public offering, in which the real estate finance company could raise $1 billion. The company said it is offering 50 million shares to the public, with the IPO expected to price at $20 a share, and to list on the NYSE under the ticker symbol "PMTG." The real estate investment trust plans to use "a significant portion" of the proceeds from the IPO to buy agency residential mortgage backed securities (RMBS) and, over time, excess mortgage servicing rights (MSR) and residential mortgage loans.

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