Velocity Financial, Inc. Announces Issuance of $215 Million of Senior Secured Notes

Author's Avatar
Mar 16, 2022

Velocity Financial, Inc. (NYSE: VEL), (“Velocity” or the “Company”), a leading provider of small balance investor loans, today announced the issuance of $215 million principal amount of five-year Senior Secured Notes (the ”Notes”) by Velocity Commercial Capital, LLC, a wholly-owned subsidiary of Velocity. The Notes will bear interest at 7.125% per annum and will mature on March 15, 2027. Interest on the notes will be payable semi-annually on March 15 and September 15 of each year, beginning on September 15, 2022.