Home Loan Servicing Solutions Announces Follow-On Offering of 22,000,000 Ordinary Shares
December 18 2012 - 7:50AM
Home Loan Servicing Solutions, Ltd. (Nasdaq:HLSS) announced today
that it is commencing an underwritten public offering of 22,000,000
of its ordinary shares. Wells Fargo Securities, LLC, Barclays
Capital Inc., BofA Merrill Lynch and Citigroup Global Markets Inc.
are acting as the joint book-running managers for the offering.
HLSS expects to grant the underwriters a 30-day option to purchase
up to an additional aggregate of 3,300,000 ordinary shares. HLSS
intends to use the net proceeds of the offering to purchase the
right to receive servicing and other related fees, associated
servicing advances and other related assets from Ocwen Loan
Servicing, LLC, and to the extent there are any remaining proceeds,
for general corporate purposes.
The offering of the securities will be made only by means of a
prospectus, copies of which may be obtained from Wells Fargo
Securities, LLC, via telephone: (800) 326-5897, email:
cmclientsupport@wellsfargo.com, or standard mail at Wells Fargo
Securities, 375 Park Avenue, 4th Floor, New York, NY 10152, Attn:
Equity Syndicate; from Barclays Capital Inc., via telephone: (888)
603-5847, email: Barclaysprospectus@broadridge.com, or standard
mail at Barclays Capital Inc., c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717; from BofA Merrill
Lynch, via email to dg.prospectus_requests@baml.com or standard
mail at Attn: Prospectus Department, 222 Broadway, New York, NY
10038; or from Citigroup Global Markets Inc., via telephone:
(877) 858-5407, email: batprospectusdept@citi.com, or standard
mail at Citigroup Global Markets Inc., Brooklyn Army Terminal, 140
58th Street, 8th Floor, Brooklyn, NY 11220, Attention: Prospectus
Department.
Home Loan Servicing Solutions, Ltd. (HLSS) is an
internally-managed owner of non-agency mortgage servicing
assets.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Forward-looking statements are not guarantees of
future performance, and involve a number of assumptions, risks and
uncertainties that could cause actual results to differ materially.
Important factors that could cause actual results to differ
materially from those suggested by the forward-looking statements
include, but are not limited to, the following: general economic
and market conditions, prevailing interest rates, governmental
regulations and policies, availability of adequate and timely
sources of liquidity, our ability to maintain our PFIC status, real
estate market conditions and other risks detailed in HLSS' reports
and filings with the Securities and Exchange Commission. The
forward-looking statements speak only as of the date they are made
and should not be relied upon. HLSS undertakes no obligation to
update or revise the forward-looking statements.
CONTACT: James E. Lauter
Senior Vice President & Chief Financial Officer
T: (561) 682-7561
E: James.Lauter@hlss.com
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