Ready Capital (RC) has priced their new issue of $25 baby bonds.
While the SEC paperwork has not been filed the company issued a press release with some of the details. I will post the details when they are available.
The issue prices at 5.75% and they have sold 7 million shares (bonds). The notes will mature in 2026 and will trade under ticker RCC when they begin to trade in a week or so.
They will be calling their 6.5% senior notes (RCP) with the proceeds.
The company press release can be read here.