Terra Property Trust Exchange Offers for Senior Notes

Terra Property Trust, Inc. filed an amended Form S-4 on March 12, 2026 covering exchange offers and a related consent solicitation for its unsecured 6.00% Senior Notes due June 30, 2026 and unsecured 7.00% Senior Notes due March 31, 2026.

Under the exchange offers, each $25 principal amount of Existing Notes tendered will be exchanged for $25 principal amount of newly issued 7.00% Senior Secured Notes due 2029 issued by the company. The new Exchange Notes will be secured by a perfected first lien pledge in the equity interests of certain direct subsidiaries.

The company also disclosed that Terra Income Fund 6, LLC is the obligor of the TIF6 Notes, with an outstanding principal balance of approximately $38.4 million as of December 31, 2025, and cash and cash equivalents of approximately $0.4 million.