The offering of 7.00% unsecured notes due 2026 was priced by Terra Income on February 3, 2021, and closed February 10, 2021.
Ladenburg Thalmann & Co. Inc., William Blair & Company LLC, and National Securities Corporation, a wholly owned subsidiary of National Holdings Inc., acted as joint book-running managers.
Terra Income expects to use the net proceeds from this offering to make investments in its targeted investments in accordance with its investment objectives and strategies and for general corporate purposes.
Terra Income is an externally managed, specialty finance company that invests primarily in commercial real estate loans, preferred equity real estate investments, and select commercial real-estate-related debt securities of private companies. The company has elected to be regulated as a business development company under the Investment Company Act and to be taxed as a real estate investment trust.
Advising Terra Income was an Alston & Bird team led by partners Michael Kessler, Rosemarie Thurston, and Martin Dozier, and senior associates Daniel Honeycutt and Ian Jones (REITs & Funds); partners Jim Croker and Shawna Tunnell and senior associate Stefanie Kavanagh (Federal & International Tax); and senior associate David Rutherford (Finance).