Real Estate Lender Sachem Capital to Sell New Baby Bond

Hard money lender REIT Sachem Capital (SACH) has announced a new issuance of baby bonds.

The company generally makes shorter term loans (i.e. 12-36 months) for real estate, both commercial and residential. The average interest rate charged is around 12-13%.

The issue will have a maturity date in 2025 and an optional early redemption in 2022.

The company has 2 other baby bond issue currently outstanding and you can see them here.

The preliminary prospectus can be read here.

Thanks to EarlyBird for catching this one.

8 thoughts on “Real Estate Lender Sachem Capital to Sell New Baby Bond”

  1. I have bought some of SCCB and SACC. They are doing well and asset coverage is strong. The suburban markets around NYC are hot now, with many people leaving Manhattan (I live in the area). The underlying assets held by the company have only become more valuable under COVID.

  2. Looks like $SCCB is trading down under par on the news. I’ll go for that issue instead. Its peer $SACC is trading in the low $24 range.

      1. SCCB still has a slightly higher yield. If $SACC and this bond can approach par , it will push up $SCCB over par. $SCCB is only 6 months ahead of $SACC in maturity.

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