Ready Capital Launches Significant Offering of Senior Notes
Ready Capital Corporation (NYSE: RC) has officially announced a new chapter in its financial strategy with the commencement of an underwritten public offering of senior unsecured notes due in 2029. This strategic move is designed not only for the growth of the company but also to align with its investment objectives.
Purpose of the Offering
The funds generated from this public offering will be instrumental for Ready Capital. The net proceeds are intended for originating or acquiring target assets that fit within their investment framework. This proactive approach is geared toward enhancing the company's ability to serve its clients while contributing to the broader real estate market.
Management Team Involved in the Offering
To ensure a successful launch of this offering, a team of reputable financial institutions has been appointed as book-running managers. Notable names such as Morgan Stanley & Co. LLC, Piper Sandler & Co., RBC Capital Markets LLC, UBS Investment Bank, and Wells Fargo Securities LLC are lending their expertise to help facilitate this process.
Listing Plans
Ready Capital is not just focused on the issuance of notes; they also plan to list these new notes on the New York Stock Exchange with the ticker symbol "RCD." This is a significant step, as it places these securities in a position to attract attention from investors who are keen on exploring growing financial instruments.
Previous Financial Activities
The registration of securities connected with this offering was initially filed with the Securities and Exchange Commission (SEC) and became effective without delay. This showcases Ready Capital's commitment to compliance and transparency within the securities market.
About Ready Capital Corporation
Ready Capital is recognized as a multi-strategy real estate finance company that is deeply invested in the commercial real estate sector. They focus on originating, acquiring, financing, and servicing loans for lower-to-middle-market investor and owner-occupied commercial real estate. With a diverse portfolio that includes agency multifamily, construction loans, and U.S. Small Business Administration loans, Ready Capital proves its versatility and dedication to meeting market demands.
Corporate Structure
With headquarters located in New York City, Ready Capital boasts a skilled team of approximately 350 professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC, ensuring robust oversight and innovative strategies are implemented to foster growth.
Frequently Asked Questions
What are the senior notes being offered by Ready Capital?
The senior notes are unsecured debt instruments that the company plans to issue, maturing in 2029, to raise funds for its investment strategy.
Who is managing the offering of these senior notes?
The offering is being managed by financial experts from Morgan Stanley, Piper Sandler, RBC Capital Markets, UBS Investment Bank, and Wells Fargo Securities.
How does Ready Capital plan to use the proceeds from the offering?
Funds will be used for the origination and acquisition of target assets that align with Ready Capital’s investment strategy, ensuring continued growth.
What is the intended listing for the new notes?
Ready Capital intends to list the senior notes on the New York Stock Exchange under the ticker symbol "RCD." This will enhance visibility and trading of the securities.
Where is Ready Capital Corporation headquartered?
Ready Capital Corporation is headquartered in New York, NY, and employs around 350 professionals to explore investment opportunities in commercial real estate.
