Adamas Trust debt offering: senior unsecured notes due 2031, size and rate not disclosed

Filed August 11, 2026 · ~1 min read

Key Changes

• high

  This 424B5 pricing prospectus leaves principal amount, interest rate, and issue date blank — final terms not yet disclosed. The notes mature in 2031, pay quarterly interest, and are callable at par starting October 2028.

  The Offering verify on EDGAR →
• medium

  Net proceeds for general corporate purposes including acquiring targeted assets and/or repaying existing debt; specific allocation not disclosed. Underwriters or their affiliates are existing lenders and may receive proceeds if debt is repaid.

  Use of Proceeds verify on EDGAR →
• high

  The notes are unsecured and effectively subordinated to approximately $11.1 billion of secured debt ($3.7B securitized debt, $7.1B repurchase agreements/warehouse facilities, $0.3B property mortgages) as of June 30, 2026.

  Risk Factors verify on EDGAR →