Rithm Capital Prices $500M Senior Unsecured Notes at 8.500% Interest
RITM sits 15% above its 52-week low of $8.43.
Summary
Rithm Capital Corp. announced the pricing of its $500 million senior unsecured notes offering at an 8.500% interest rate, with closing expected on May 14, 2026.
Key Events · Financing and Capital Events · RITM
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Pricing of Senior Unsecured Notes
Rithm Capital Corp. priced a private offering of $500 million aggregate principal amount of senior unsecured notes.
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Interest Rate Set
The notes will bear an interest rate of 8.500% and are due in 2031.
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Expected Closing Date
The offering is expected to close on May 14, 2026, subject to customary closing conditions.
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Use of Proceeds
Net proceeds from the offering are intended for general corporate purposes, which may include the repayment of certain indebtedness.
Analysis · RITM · Real Estate & Construction
This filing finalizes the terms of the previously announced $500 million private offering of senior unsecured notes. While securing significant capital for general corporate purposes and debt repayment, the 8.500% interest rate represents a substantial cost of capital for the company. This debt issuance will impact the company's balance sheet and future interest expenses.
At the time of this filing, RITM was trading at $9.70 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $5.4B. The 52-week trading range was $8.43 to $12.74. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.