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Granite Point Mortgage Trust completes private notes offering

Granite Point Mortgage Trust Inc. has completed a private offering of $125 million of 5.625% convertible senior notes due Dec. 1, 2022.

Interest on the notes will be payable in cash June 1 and Dec. 1 of each year, beginning June 1, 2018.

The offering yielded net proceeds of about $121.3 million, after deducting any discounts and expected costs. The company plans to use the proceeds to originate and acquire its target assets and for general corporate purposes.