secwatch.observer — SEC 8-K summary
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Issuer:     Ready Capital Corp (RC)
CIK:        0001527590
Form:       8-K
Filed at:   2026-09-18T11:36:44+00:00
Accession:  0001628280-26-062620
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ready Capital prices $225M 10% notes due 2031 to fund $350M 2026 note redemption
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- Priced $225.0M private placement of 10.00% Senior Secured Notes due 2031 at 99.5% of par; closing expected Sept 28, 2026.
- Proceeds, plus cash, will redeem all $350.0M of 4.50% Senior Secured Notes due 2026 at 100% plus accrued interest.
- Transaction cuts corporate secured debt by $125M; leaves sole 2026 maturity of $100M due Nov 2026, to repay from cash.
- Represents completion of balance sheet repositioning: $2.3B cash generated, $1.7B asset financing repaid, $549M corporate debt retired.
- Company shifts focus to earnings growth, deploying capital into CRE debt and SBA originations; Piper Sandler placement agent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527590/000162828026062620/0001628280-26-062620-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527590/000162828026062620/rc-20260917.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-062620

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