TWOD: Exploring If The Bonds Can Be Called After The Two Harbors Acquisition
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Binary Tree Analytics5.5K FollowersFollow5ShareSavePlay(8min)CommentsSummaryTwo Harbors is now set to be acquired by UWM Holdings. The article explores the terms of the transaction and the timing. The article goes through the TWOD debenture from Two Harbors and its terms and conditions. Yield to call analytics are presented in various scenarios, as well as the base-case timeline. designer491/iStock via Getty Images Thesis Two Harbors Investment Corp. CAL 30 (TWOD) is a baby bond from the mortgage Reit ('mReit') Two Harbors (TWO). We covered this debenture back in mid 2025, arguing that the priceThis article was written byBinary Tree Analytics5.5K FollowersFollowWith an investment banking cash and derivatives trading background, Binary Tree Analytics ('BTA') aims to provide transparency and analytics in respect to capital markets instruments and trades. BTA focuses on CEFs, ETFs and Special Situations, and aims to deliver high annualized returns with a low volatility profile. We have been investing for over 20 years after obtaining a Finance major at a top university.Analyst’s Disclosure:I/we have a beneficial long position in the shares of TWOD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.