Thornburg receives second override agreement extension, new capital raising deadline March 31

By Caroline Salls

Pittsburgh, March 31 - Thornburg Mortgage, Inc. received an extension through March 31 of the override agreement under which the company agreed to raise at least $948 million in new capital, according to a company news release.

The agreement was previously set to expire at 5 p.m. ET on March 28.

As previously reported, under the 364-day agreement, which was announced on March 19, Thornburg originally agreed to raise the new capital net proceeds within seven days.

The reverse repurchase agreement counterparties and affiliates who entered the override agreement include Bear Stearns Investment Products Inc., Citigroup Global Markets Ltd., Credit Suisse Securities (USA) LLC, Credit Suisse International, Greenwich Capital Markets Inc., Greenwich Capital Derivatives, Royal Bank of Scotland plc and UBS Securities LLC.

Thornburg is a Santa Fe, N.M.-based mortgage lender specializing in jumbo mortgages.

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