secwatch.observer — SEC 8-K summary
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Issuer:     Ready Capital Corp (RC)
CIK:        0001527590
Form:       8-K
Filed at:   2026-09-28T20:21:24+00:00
Accession:  0001628280-26-063725
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527590/000162828026063725/0001628280-26-063725-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527590/000162828026063725/rc-20260928.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-063725

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