NEW YORK--(BUSINESS WIRE)--
On April 29, 2016, Chimera Investment Corporation (NYSE:CIM) sponsored
CIM 2016-1: a $1.5 billion securitization of seasoned residential
mortgage loans. Securities with an aggregate balance of approximately
$1.275 billion were sold in a private placement to institutional
investors. Chimera retained interests in securities with an aggregate
balance of approximately $225 million. Chimera also retained an option
to call the outstanding notes at any time beginning in April 2020.
Other Information
Chimera Investment Corporation invests in residential mortgage loans,
residential mortgage-backed securities, real estate-related securities
and various other asset classes. The Company’s principal business
objective is to generate income from the spread between yields on its
investments and its cost of borrowing and hedging activities. The
Company is a Maryland corporation that has elected to be taxed as a real
estate investment trust (“REIT”).
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Chimera Investment Corporation
Investor Relations, 866-315-9930
www.chimerareit.com
Source: Chimera Investment Corporation