Ellington Financial prices $150M notes offering at 7.375%
Ellington Financial Inc. announced the pricing of an expanded $150 million senior unsecured note offering with a 7.375% interest rate, set to mature in 2030. The offering was increased from the initially announced $100 million. The notes will be issued at a price of 99.010% of their principal value, with a yield to maturity of 7.663%.
The proceeds are expected to be used for general corporate purposes, including debt repayment and asset acquisitions. The notes are guaranteed by Ellington Financial and will be offered to qualified institutional buyers and non-U.S. persons under certain regulations. The company invests in various financial assets, primarily in the mortgage sector.
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Also reported by 1 other outlet
- Ellington Financial upsizes senior notes offering due 2030 to $150M seekingalpha.com
