Ready Capital Corp (RC): debt financing — Ready Capital subsidiary closes $220M 9.375% Senior Secured Notes due 2028

Ready Capital Corp

ReadyCap Holdings issued $220M aggregate principal of 9.375% Senior Secured Notes due 2028.
Notes are guaranteed by parent Ready Capital and several subsidiaries; secured by first-priority lien on assets of RCSR I and II.
Net proceeds to be used for repayment of indebtedness and general corporate purposes.
Piper Sandler & Co. acted as placement agent; notes offered in private placement exempt from registration.

item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Ready Capital Corp incurred senior notes of $220.0 million at 9.375% maturing 2028.

Instrument: senior notes
Principal: $220.0 million
Rate: 9.375%
Maturity: 2028
Event: incurrence

Exact text from the filing

Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that on February 21, 2025, ReadyCap Holdings, LLC (“ReadyCap”), an indirect subsidiary of the Company closed a private placement of $220.0 million in aggregate principal amount of its 9.375% Senior Secured Notes due 2028 (the “Notes”).

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Source: SEC EDGAR

accession 0001104659-25-016547

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