Press Release October 26, 2021

Ready Capital Corporation Closes $350 Million Senior Secured Notes Offering

Alston & Bird acted as counsel to Piper Sandler and Keefe, Bruyette & Woods as the placement agents for a private offering of $350 million in senior secured notes by a subsidiary of real estate finance company Ready Capital Corporation.

ReadyCap Holdings LLC, an indirect subsidiary of Ready Capital, closed the $350 million placement of its 4.50% senior secured notes due 2026 on October 20, 2021. Ready Capital will use the net proceeds from the placement to redeem all of ReadyCap’s outstanding 7.50% senior secured notes due 2022 and for general corporate purposes.

Ready Capital is an NYSE-listed real estate finance company that originates, acquires, finances, and services small- to medium-sized commercial loans. Headquartered in New York, the company employs more than 400 lending professionals nationwide. It is externally managed and advised by Waterfall Asset Management LLC.

Representing Piper Sandler and Keefe, Bruyette & Woods was an Alston & Bird team led by partner Michael Kessler (REITs & Funds), partner David E. Brown and associate Joel Jung (Financial Services & Products), partner Shawna Tunnell and senior associate Stefanie Kavanagh (Federal & International Tax), and partner Paul Hespel and senior associate David Rutherford (Finance).
Media Contact
Nicholas Clarke
Communications Director
Phone: 212.210.1222

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