Terra Property Trust, Inc. Announces Repurchase of Notes

NEW YORK, Oct. 6, 2022 /PRNewswire/ -- As previously disclosed, on October 1, 2022, Terra Property Trust, Inc. (the "Company") completed the previously announced merger (the "Merger") with Terra Income Fund 6, Inc. ("TIF6"). The Company's executive officers will remain in their current roles. The combined company will continue to operate under the name Terra Property Trust, Inc. and will remain headquartered in New York, New York. Terra REIT Advisors, LLC will continue to manage the combined company. The Company believes that the Merger will position the Company to benefit from enhanced diversification across geographic markets and asset types and that the enhanced size, scale and financials of the Company will likely improve access to capital markets and reduce the cost of capital, which can be used to support strategic investments that drive growth opportunities, and may increase opportunities for stockholder liquidity.

The Company today announced that it intends to repurchase certain of its 6.00% Notes due 2026 listed on the New York Stock Exchange ("NYSE") under the trading symbol TPTA, and intends to cause Terra Income Fund 6, LLC, a wholly owned subsidiary of the Company, to repurchase certain of its 7.00% Notes due 2026 listed on the NYSE under the trading symbol TFSA ("TFSA Notes"). As previously disclosed, Terra Income Fund 6, LLC is the successor obligor to the TFSA Notes originally issued by TIF6. The timing and amount of any repurchase transactions will be determined by the Company's management based on its evaluation of market conditions, note prices, legal requirements and other factors, and may be made from time to time on the open market, in privately negotiated transactions or otherwise, in each case subject to compliance with all Securities and Exchange Commission ("SEC") rules and other legal requirements.

Safe Harbor Statement

This press release contains statements that constitute "forward-looking statements," as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, applicable regulatory changes; general volatility of the capital markets; changes in the Company's investment objectives and business strategy; the availability of financing on acceptable terms or at all; the availability, terms and deployment of capital; the availability of suitable investment opportunities; changes in the interest rates or the general economy; increased rates of default and/or decreased recovery rates on investments; changes in interest rates, interest rate spreads, the yield curve or prepayment rates; changes in prepayments of Company's assets; the degree and nature of competition, including competition for the Company's target assets; and other factors, including those set forth in the Risk Factors section of the Company's most recent Annual Report on Form 10-K filed with the SEC, and other reports filed by the Company with the SEC, copies of which are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

About Terra Property Trust, Inc.

Terra Property Trust, Inc. is an externally managed, real estate credit focused company that originates, structures, funds and manages commercial real estate credit investments, including mezzanine loans, first mortgage loans, subordinated mortgage loans and preferred equity investments throughout the United States. The Company's objective is to continue to provide attractive risk-adjusted returns to its stockholders, primarily through regular distributions. The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes commencing with its taxable year ended December 31, 2016. The Company is externally advised by Terra REIT Advisors, LLC, an affiliate of Terra Capital Partners, LLC.

Media Contacts

Terra Property Trust, Inc.

Jonathan Keehner / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449

SOURCE Terra Property Trust, Inc.