Ready Capital Corporation announced on September 18, 2026, that it entered into the First Supplement to the Eighth Supplemental Indenture. This amendment modifies the terms governing the company's $100,000,000 aggregate principal amount of 7.375% Senior Notes due 2027.
The agreement, executed between Ready Capital and U.S. Bank Trust Company, National Association as trustee, was approved by holders holding a majority of the outstanding notes. The amendment introduces two new financial covenants:
- Recourse Debt to Equity Ratio: The company is now permitted to maintain a ratio of up to 2.0 to 1.0.
- Consolidated Net Asset Value: The minimum threshold is set at $1.2 billion plus the greater of zero and 75% of Net Equity Capital Activity. These metrics are measured as of the last day of each fiscal quarter.
The filing indicates that the full text of the amendment and the underlying indenture are included as exhibits to the report.
