Ellington Credit Company (NYSE: EARN) has entered into an underwriting agreement for the issuance of $50 million in unsecured notes, with an interest rate of 8.50% due in 2031. The offering is set to close on March 30, 2026, pending customary closing conditions. The notes are expected to be listed on the New York Stock Exchange under the ticker symbol 'ELLA'. The proceeds from this offering will be utilized for general corporate purposes, including funding additional asset purchases and repaying short-term borrowings under reverse repurchase agreements. The underwriting agreement also grants underwriters an option to purchase an additional $7.5 million in notes within 30 days of the effective date. This offering follows a registration statement that was declared effective by the SEC on March 24, 2026, and the notes have been rated 'BBB' by Egan-Jones Ratings Company. The company aims to leverage these funds to enhance its investment strategies and maintain liquidity in its operations.

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