Home Loan Servicing Solutions Announces Pricing of Follow-on Equity Offering
December 18 2012 - 7:02PM
Home Loan Servicing Solutions, Ltd. (Nasdaq:HLSS) announced today
that it has priced a public offering of 25,300,000 of its ordinary
shares at a public offering price of $19.00 per share for total
gross proceeds of approximately $480,700,000.00. 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 is subject to customary closing
conditions and is expected to close on December 24, 2012.
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.
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.
A registration statement relating to these securities has been
declared effective by the Securities and Exchange Commission. 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.
CONTACT: James E. Lauter
Senior Vice President &
Chief Financial Officer
T: (561) 682-7561
E: James.Lauter@hlss.com
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