Ready Capital redeems USD 350 million senior secured notes due 2026

RC•2026-09-18

Ready Capital priced a USD 225 million private placement of 10% Senior Secured Notes due 2031 at 99.5.
Proceeds, combined with cash, are earmarked to redeem USD 350 million of 4.5% Senior Secured Notes due 2026.
Redemption is set at 100% of principal, with accrued and unpaid interest.
The transaction cuts corporate secured debt outstanding by USD 125 million.
The only remaining 2026 corporate debt maturity is USD 100 million due November 2026, expected to be repaid from cash.

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