The Fund today announced the commencement of an underwritten public offering of unsecured notes due 2031 (the “2031 Notes”). The public offering price, interest rate, and other terms will be determined through negotiations between the Fund and the underwriters. The 2031 Notes have been rated ‘BBB’ by Egan-Jones Ratings Company, an independent rating agency unaffiliated with the Fund. The Fund intends to grant the underwriters a 30-day option to purchase additional 2031 Notes at the same price and on the same terms and conditions to cover overallotments, if any. The Fund expects to use the net proceeds from the offering for general corporate purposes, including (i) funding purchases of additional assets in accordance with the Fund’s investment objectives and strategies and (ii) repaying short-term borrowings under reverse repurchase agreements, which the Fund uses to finance many of its investments. As of 2026-03-24, the Fund’s leverage was 32.9% and Collateralized Loan Obligation Group leverage was 33.1%.
Ellington Cr Co
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