Is there any way to trim excess padding from text?

Hi there,

I have a text rea with some text in it. If I select the text, we can see that the bounding box is pretty small:

Now, if I rotate the text by 90 degrees, I expect the same thing to happen but instead, I get this:

As you can see, the top and the bottom has this padding now that I dont want. I spent quite bit of time tweaking different options to see if I can eliminate this, but so far, I have not been able to come up with a solution.

What I am trying to do, is to add a bracket around text where the text is oriented horizontal but the brackets are oriented vertically, like this:

 But as you can see in the example above, the excess spacing is causing uneven spacing between the top and the bottom.

If anyone has idea how to fix this or better way to do this, please let me know. Thanks in advance!