By Marisa Wong
Morgantown, W.Va., Aug. 15 – Ellington Financial LLC said it priced an $81 million private placement of 5.25% senior notes due September 2022 at par.
The offering may be upsized prior to closing, subject to a maximum aggregate principal amount of $100 million, according to a press release.
The company said it intends to use proceeds to acquire its targeted assets and also for working capital and general corporate purposes.
The Rule 144A, Regulation D and Regulation S offering is expected to close on Friday.
Ellington is a specialty finance company that primarily acquires and manages mortgage-related and consumer-related assets. The company is based in Old Greenwich, Conn.
| Issuer: | Ellington Financial LLC
|
| Issue: | Senior notes
|
| Amount: | $81 million (may be increased to up to $100 million prior to closing)
|
| Maturity: | September 2022
|
| Coupon: | 5.25%
|
| Price: | Par
|
| Yield: | 5.25%
|
| Settlement date: | Aug. 18
|
| Distribution: | Rule 144A/Regulation S/Regulation D
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
