By Marisa Wong
Morgantown, W.Va., Aug. 18 – Ellington Financial LLC said it closed on Friday its private placement of 5.25% senior notes due September 2022 totaling $86 million.
The notes were sold at par, as announced on Aug. 15.
The deal was upsized from $81 million. According to the previous press release, the offering could be upsized prior to closing, subject to a maximum aggregate principal amount of $100 million.
The company said it intends to use proceeds from the Rule 144A, Regulation D and Regulation S offering to acquire its targeted assets and also for working capital and general corporate purposes.
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
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| Issue: | Senior notes
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| Amount: | $86 million (increased from $81 million)
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| Maturity: | September 2022
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| Coupon: | 5.25%
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| Price: | Par
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| Yield: | 5.25%
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| Settlement date: | Aug. 18
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| Distribution: | Rule 144A/Regulation S/Regulation D
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