Ellington Credit Company

Ellington Credit Company has announced a public, syndicated offering of unsecured bonds maturing in 2031; the issue price, coupon and terms will be negotiated with the syndicate banks. Egan-Jones has rated the bonds BBB, and the syndicate banks have a 30-day over-allotment option. The securities are expected to be listed on the NYSE under the ticker ELLA; net proceeds will be used for general corporate purposes, in particular to acquire additional assets and to repay short-term reverse-repo liabilities. Piper Sandler is leading the banking syndicate as bookrunner; the SEC has declared the related registration statement effective. » More on de.investing.com

Ellington Financial has announced a public offering of 8,775,000 common shares; the stock fell 2.1% in after-hours trading. Net proceeds are to be used to repurchase all outstanding Series A preferred stock, and the underwriting banks are being granted a 30-day option to purchase up to 1,316,250 additional shares. Morgan Stanley and Goldman Sachs are acting as joint bookrunners; remaining proceeds are intended for general corporate purposes. The shares are being offered under an already effective shelf registration. » More on de.investing.com

Ellington Residential reported a GAAP net income of $4.3 million for Q3 2025 and a NAV of $225.1 million ($5.99 per share). The CLO portfolio grew 20% during the quarter to $379.6 million and delivered a weighted average GAAP yield of 15.5%. Recurring cash distributions amounted to $16.2 million; the monthly dividend remains $0.08 per common share (18.6% yield on the closing price as of Nov. 18). The company highlights further growth potential in the CLO market, plans to issue long-term unsecured notes, and warns of potential risks from interest rate and market uncertainty. » More on de.investing.com