Ellington Credit Co
For the period ended May 19, 2026. Filed May 20, 2026.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
May 19, 2026 · Filed May 20, 2026
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EX-99.1 · Financing
Financing
On March 30, 2026, we enhanced our capital structure through the issuance of $54.0 million of unsecured long-term notes (the "Senior Notes"), which bear a fixed interest rate of 8.50% payable quarterly in arrears, and mature on March 30, 2031 unless earlier redeemed or repurchased. The Senior Notes trade on the New York Stock Exchange under the symbol "ELLA" and have been rated ‘BBB’ by Egan-Jones Ratings Company, a nationally recognized statistical rating organization. We elected the fair value option under ASC 825 for the Senior Notes, and accordingly, the Senior Notes are included on the Consolidated Statement of Assets and Liabilities under the caption "Unsecured borrowings, at fair value"; as a result of this election we expensed $2.3 million of debt issuance costs at the time of issuance.
The following table summarizes our outstanding borrowings as of March 31, 2026:
| ($ in thousands) | Outstanding Borrowing(1) |
|---|---|
| Reverse repurchase agreements | $166,274 |
| Unsecured borrowings | 54,000 |
| Total outstanding debt | $220,274 |
(1)Represents outstanding principal amount of borrowing.
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