PennyMac Mortgage Investment Trust (PMT) disclosed plans Tuesday for an underwritten public offering of senior unsecured notes maturing in 2030.

After first paying underwriter discounts and other offering expenses, the mortgage real estate investment trust expects to use net proceeds from the upcoming securities offering to fund the business and its investment activities, including the purchase of subordinated bonds from its private-label securitization unit and other mortgage-related securities.

A portion of the proceeds also may be used to repay existing debt, including PennyMac's 5.5% exchangeable senior notes due 2026, or funding other general business purposes, the company said.

PennyMac also is planning to list the 2030 notes on the New York Stock Exchange, which if approved, would trade under the "PMTV" symbol.

PMT shares were down 0.7% in early trading.

Price: 13.26, Change: -0.09, Percent Change: -0.67