Velocity Financial subsidiary issues $500M 9.375% Senior Notes due 2031; redeems 2027 notes

Velocity Financial, Inc.

Issued $500M principal of 9.375% Senior Notes due 2031 by Velocity Commercial Capital, guaranteed by Velocity Financial.
Net proceeds ~$487M; $222.7M to redeem outstanding 7.125% Senior Secured Notes due 2027.
Remaining proceeds for general corporate purposes, including up to $75M for potential acquisition.
Interest payable semi-annually starting Aug 15, 2026; notes mature Feb 15, 2031.
Callable at 104.668% in 2028, stepping down to par in 2030; change of control trigger at 101%.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Velocity Financial, Inc. entered into Indenture with U.S. Bank Trust Company, National Association valued at $500 million (effective 2026-01-30).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $500 million
Effective: 2026-01-30

Exact text from the filing

On January 30, 2026 Velocity Commercial Capital, LLC (the “Issuer”), a wholly-owned subsidiary of Velocity Financial, Inc. (“Velocity” or the “Company”) and the Company, as guarantor, completed the issuance and sale of $500 million aggregate principal amount of the Issuer’s 9.375% Senior Notes due 2031 (the “Notes”) pursuant to an Indenture, dated as of January 30, 2026, by and between the Issuer, the Company, as guarantor, and U.S. Bank Trust Company, National Association, as trustee.

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Velocity Financial, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-031817

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