New Issue: Ellington wraps $210 million placement of 5 7/8% notes due 2027

By Wendy Van Sickle

Columbus, Ohio, March 31 – Ellington Financial LLC said it closed on Thursday its private placement of 5 7/8% senior notes due April 1, 2027 totaling $210 million.

The company said it intends to use proceeds from the Rule 144A offering to redeem all of the outstanding 5½% senior notes due 2022, to finance a previously announced acquisition and also for working capital and general corporate purposes.

Ellington is a specialty finance company that primarily acquires and manages mortgage-related and consumer-related assets. The company is based in Old Greenwich, Conn.

Issuer:	Ellington Financial LLC
Amount:	$210 million
Issue:	Senior notes
Maturity:	April 1, 2027
Coupon:	5 7/8%
Call:	Make-whole call until April 1, 2024, then callable at 102.9375 until April 1, 2025, at 101.46875 until April 1, 2026 and at par thereafter
Settlement date:	March 31
Trustee:	Wilmington Trust, NA
Distribution:	Rule 144A

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