Ready Capital issues $80M of 7.375% Senior Notes due 2027; net proceeds ~$77.5M

Ready Capital Corp

Issued $80M aggregate principal 7.375% Senior Notes due July 31, 2027; sold at $975 per Note.
Net proceeds approx. $77.5M after expenses; contributed to operating partnership.
Proceeds to be used for target asset origination/acquisition and general corporate purposes; may temporarily reduce borrowings.
Notes are senior unsecured; rank equal with existing unsecured debt; not listed on any exchange.
Interest payable semi-annually Jan 31 & Jul 31; first payment Jan 31, 2023.

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