Ready Capital Corporation 9.00% Preferred Stock due 2029 (RCD)
NYSE NYSE Primary 
RCD: A Baby Bond To Sell, Not To Buy
Ready Capital Corporation's 9.00% Senior Notes due 2029 carry high risk due to poor management and significant equity value destruction over the past decade. Despite the attractive 9% coupon, RCD's high duration and default risk make it an unfavorable investment compared to more stable alternatives. The company's common equity has plunged over 20% year-to-date, and a class action suit further questions management's competence and solvency.
RCD: A 9.00% Senior Note IPO From Ready Capital Corporation
Ready Capital Corporation's new senior notes trading under ticker RCD offer a 9.00% annual interest rate but face significant financial challenges, including inconsistent dividends and a high debt-to-equity ratio. The company's recent dividend cut and negative earnings-to-debt payments ratio raise concerns about its ability to cover debt obligations. Compared to other Ready Capital senior notes, RCD is fairly priced but not the best option due to its longer duration and associated risks.
