Ready Capital closes $225M 10% secured notes due 2031, redeems $350M 4.50% notes due 2026

Ready Capital Corp

Subsidiary ReadyCap Holdings II, LLC closed a private placement of $225.0 million of 10.00% Senior Secured Notes due 2031 on September 28, 2026.
Subsidiary ReadyCap Holdings, LLC completed redemption of the entire $350.0 million outstanding of its 4.50% Senior Secured Notes due 2026 at 100% of principal plus accrued and unpaid interest.
Net effect is roughly $125 million less secured debt outstanding, but the new coupon of 10.00% is 550 basis points above the 4.50% notes being retired.
Both the offering close and the redemption were completed September 28, 2026, per terms priced and disclosed in the September 18, 2026 Form 8-K.

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