Ellington Financial Moves Forward with $400 Million Note Offering
Ellington Financial Announcements
Ellington Financial Inc. (NYSE: EFC) has revealed plans for an offering amounting to $400 million in senior unsecured notes scheduled to mature in 2030. This significant move is expected to occur through its subsidiaries, referred to as the Issuers. The notes will represent senior unsecured obligations of the Issuers, secured by a complete and unconditional guarantee from the company itself. Such financial maneuvers are typically implemented to optimize corporate resources and strengthen investment capabilities.
Financial Strategy Behind the Offering
The proceeds from this offering are intended for various corporate purposes, which notably includes settling a portion of existing borrowings related to the company’s repurchase agreements. Furthermore, these funds will support Ellington's endeavors to acquire additional assets in line with its strategic investment objectives. By issuing senior unsecured notes, the company aims to bolster its financial flexibility and resource allocation.
Note Registration Details
The aforementioned notes, including the guarantee, have yet to be registered under the Securities Act of 1933 or any additional securities regulations. Consequently, these financial instruments may only be available for purchase by institutional buyers believed to be qualified under Rule 144A of the Securities Act, as well as non-U.S. entities outside the United States, adhering to Regulation S under the Act.
Understanding the Risks
Investors should consider that this announcement does not serve as an invitation or sales solicitation for the notes or any associated securities. Such specifications are crucial for maintaining compliance within jurisdictions where the offer or solicitation is deemed unlawful. As such, any engagement regarding these financial offerings must consider local regulations and restrictions.
About Ellington Financial
Ellington Financial specializes in a wide range of financial assets that encompass both residential and commercial mortgage loans, mortgage-backed securities, reverse mortgage loans, consumer loans, and more. In addition, the company invests in asset-backed securities, collateralized loan obligations, and both mortgage-related and non-mortgage derivatives. The firm's external management is conducted by Ellington Financial Management LLC, which is affiliated with Ellington Management Group, L.L.C. This broad spectrum of investments reflects Ellington's strategic approach to accomplishing its financial objectives.
Investor Relations
For more in-depth inquiries, Ellington Financial's Investor Relations team can be reached at (203) 409-3575 or via email at info@ellingtonfinancial.com. Should you require media assistance, Amanda Shpiner and Grace Cartwright from Gasthalter & Co. offer their support, reachable at (212) 257-4170 or through email at ellington@gasthalter.com.
Frequently Asked Questions
What is the purpose of the $400 million note offering?
The funds from the note offering are intended for general corporate purposes, including the repayment of existing borrowings and asset acquisitions.
Who can purchase the senior unsecured notes?
The notes are offered primarily to qualified institutional buyers and non-U.S. persons adhering to specific regulations.
What types of assets does Ellington Financial invest in?
Ellington Financial invests in a diverse array of assets including mortgage loans, mortgage-backed securities, consumer loans, and strategic financial instruments.
Can investors expect updates on this offering?
While the company will provide relevant information, investors should be aware that there is no obligation to update forward-looking statements.
How can I contact Ellington Financial for more information?
Investors can reach Ellington Financial's Investor Relations at (203) 409-3575 or by emailing info@ellingtonfinancial.com.
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