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mREIT Ellington Financial to Sell Fixed Rate Reset Preferred

mREIT Ellington Financial (EFC) has announced they are selling a new issue of fixed rate reset preferred. The coupon will be fixed until 4/2028 and after that point will be reset at the 5 year treasury plus a yet to be announced ‘spread’.

The company has 2 other preferred issues outstanding which can be seen here.

The preliminary prospectus is here.

mbg was on top of this one.

3 thoughts on “mREIT Ellington Financial to Sell Fixed Rate Reset Preferred”

  1. EFC: Will the final qtr be better? Dubious buy now– EFCRP
    Net Income (Loss) per Share of Common Stock:
    Basic and Diluted
    3mo SEP’22 ’21 9mo SEP’22 ’21
    $(0.55) $0.41 $ (1.82) 1.99

  2. WOW, just took a look at their other 2 current issues. Well if you enjoy losing money then you just found your dream preferred–LOL.

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