REIT's Rescue Revised

American Banker (10/02/08); Colter, Allison Bisbey
Thornburg Mortgage Inc.'s effort to exchange its preferred shares to retain a $1.35 billion rescue package offered by a group of investors led by MatlinPatterson Global Advisors LLC has been a challenge, but CEO Larry Goldstone says the jumbo lender could collapse without the rescue plan. Holders of preferred stock will have the right to tender one share for three common shares, and they will have until the end of the month to take advantage of the offer.