Ellington Credit Co. 8.5% 30-MAR-2031
ELLA
New York Stock Exchange25.06
USD
-0.03
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Ellington Credit Co. 8.5% 30-MAR-2031
ELLA
(New York Stock Exchange)
Recent
price
25.06
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Ellington Credit Company, a closed-end fund focused on credit markets, operates as a vehicle for acquiring, investing in, and managing secondary collateralized loan obligation (CLO) mezzanine debt and equity tranches; it updates its capital structure and liquidity management through a mix of asset purchases, securitized and unsecuritized loans, and corporate credit instruments. The firm principally engages in diversified credit activities across residential and commercial mortgage assets, consumer debt, and corporate debt/leverage loans, leveraging hedging strategies to balance upside capture with downside protection. Headquartered in Old Greenwich, Connecticut, United States, Ellington Credit Company is publicly listed on the NYSE under the ticker ELLA and is managed within the Ellington platform, which emphasizes disciplined asset selection, risk control, and liquidity management. Mandatory main products and services - Core offerings: mezzanine debt and equity tranches within collateralized loan obligations (CLOs); secondary CLO securities; securitized and unsecuritized loans; cash and synthetic corporate credit - Related products: asset purchases in diversified credit, mortgage-related investments (residential and commercial), consumer debt investments, leveraged loans - Investment activities: credit-focused sourcing, hedging strategies, risk-managed exposure across various sectors; liquidity facilities and short-term funding management Latest major changes - Public debt offering: issues unsecured notes due 2031 at 8.50% coupon to diversify and extend funding, with plans to list on the NYSE under the symbol ELLA - Use of proceeds and financing strategy: proceeds directed toward general corporate purposes, asset acquisitions aligned with investment objectives, and refinancing or repayment of short-term borrowings to enhance liquidity and funding stability - Strategic financing evolution: expansion of term funding to complement existing reverse repurchase agreements, improving liability management and capital structure resilience in varying market conditions Additional context - Industry and segments: asset management and specialty credit investing with emphasis on CLOs, securitized debt, and diversified credit - Target markets: institutional investors seeking exposure to CLO mezzanine debt, equity tranches, and broader credit opportunities - Geographic operations: United States focus with headquarters on the East Coast; global investor base via public market access and cross-border capital channels - Founding and leadership: affiliated with Ellington's broader platform established in 1994, leveraging the firm’s credit and fixed-income expertise - Subsidiaries/relationships: part of the Ellington group with integrated capabilities in diversified credit, mortgage strategies, and fixed income markets; operates under the Ellington brand for credit fund activities and securitized asset management