Ellington Financial prices $150M in senior unsecured notes due 2030

Ellington Financial Inc. (NYSE: EFC) has priced an upsized offering of $150 million in aggregate principal amount of 7.375% senior unsecured notes due 2030, according to a press release. The offering was increased from an originally announced $100 million.

The notes were priced at 99.010% of their principal amount, with a yield to maturity of 7.663%. The offering is expected to close on September 17, 2026, subject to customary closing conditions.

The new notes were issued as additional notes under an existing indenture dated October 6, 2025, under which the company previously issued $400 million of notes with identical terms. The new notes will be treated as a single class with those existing notes.

The company said it expects to use net proceeds for general corporate purposes, including repaying a portion of borrowings under outstanding repurchase agreements and funding additional asset purchases.

The notes were offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, and have not been registered under the Securities Act of 1933.

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