Red Bank-based Zais Financial Corp. announced today ZAIS Financial Partners, L.P., the operating partnership through which the company conducts its operations, has agreed to sell in a private offering $50 million of its 8 percent exchangeable senior notes due 2016.
According to the announcement, the company granted the initial purchaser a 30-day option to purchase up to an additional $7.5 million aggregate principal amount of the notes. The notes will be senior unsecured obligations of the operating partnership. The company will guarantee the payment of amounts due on the notes. The offering is expected to close on November 25, 2013, subject to the satisfaction of certain closing conditions.