8-K - Ellington Credit Company | StockGist

AI Analysis

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Ellington Credit Company completed a $50 million public offering of 8.50% Notes due 2031 on March 30, 2026, via an indenture with Wilmington Trust, with underwriters' option for an additional $7.5 million.

Key Takeaways

1Issued $50M aggregate principal 8.50% Notes due March 30, 2031, general unsecured obligations.

2Underwriters may purchase additional $7.5M within 30 days.

3Interest payable quarterly at 8.50% starting June 30, 2026; redeemable at 100% principal after March 30, 2028.

4Notes to trade on NYSE under 'ELLA' within 30 days.

5Structurally subordinated to subsidiaries' indebtedness; subject to 1940 Act asset coverage covenant.

6No sinking fund; minimum denomination $25.

Current Report Details

Event Type

Material Agreement

Financing

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

Entry into a Material Definitive Agreement. On March 30, 2026, in connection with the previously announced public offering (the "Offering") of $50 million aggre

Material Agreement

$7.5M$25.00$25.00

2.03

Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 of

Financing

9.01

Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being furnished herewith this Current Report on Form 8-K. 4.1 Indenture, dated as of M

Exhibits Only

Transaction Details

Material Agreement

Agreement: Indenture
Parties: Ellington Credit Company, Wilmington Trust, National Association

•Base Indenture and First Supplemental Indenture dated March 30, 2026
•Covenant to comply with 1940 Act Section 18(a)(1)(A) asset coverage
•Ability to issue Additional Notes without holder consent

Debt / Financing

Instrument: 8.50% Notes due 2031
Principal: 50000000
Rate: 8.50%
Maturity: 2031-03-30
Use of Proceeds: N/A

Exhibits (3)

4.1

EX-4.1

4.2

EX-4.2

8-K