Investor Presentaiton
Financing and Leverage
$ in millions
Total debt-to-equity ratio
Secured borrowings (warehouse credit facilities and borrowings under repo transactions)
Secured borrowings (ANH warehouse credit facilities and borrowings under repo transactions)
Paycheck Protection Program Liquidity Fund
Securitized debt obligations
Senior secured notes and corporate bonds
Convertible notes
Total debt
Total stockholders' equity
Total debt-to-equity ratio
Total recourse debt-to-equity ratio
Total debt
Less: Securitized debt obligations
Less: Paycheck Protection Program Liquidity Fund
Total recourse debt
Total stockholders' equity
Total recourse debt-to-equity ratio
HISTORICAL LEVERAGE
6.0
5.0
4.0
3.0
5.1x
5.4x
4.7x
4.5x
4.5x
2.0
1.0
2.1x
2.0x
2.2x
2.3x
1.8x
0.0
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
■Recourse
■ Total
READY CAPITAL.
June 2021
$
1,568
135
2,287
2,309
513
113
$
6,925
1,280
5.4
SA
$
6,925
(2,309)
(2,287)
$
2,329
$
1,280
1.8
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