PIMCO Mortgage Income Trust, a newly formed residential mortgage REIT managed by PIMCO, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. PIMCO's parent, Allianz SE, has indicated an interest in purchasing $25 million of shares of common stock on the offering at the IPO price.
The REIT will be led by CEO Casey Newell, Executive Vice President in the Private Strategies Group at PIMCO.
The Newport Beach, CA-based company was founded in 2018 and plans to list on the NYSE under the symbol PMTG. PIMCO Mortgage Income Trust filed confidentially on June 19, 2018. Credit Suisse, BofA Merrill Lynch, Goldman Sachs, Morgan Stanley, J.P. Morgan, UBS Investment Bank, Citi, Wells Fargo Securities and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
