Home Loan Servicing Solutions, Ltd. Announces Closing of Follow-on Equity Offering
December 24 2012 - 10:13AM
Home Loan Servicing Solutions, Ltd. (Nasdaq:HLSS) announced today
the closing of its previously announced underwritten public
offering of ordinary shares. The Company sold a total of 25,300,000
newly issued ordinary shares at a price to the public of $19.00 per
share. The Company received net proceeds of approximately $462
million from the offering after deducting underwriting discounts
and commissions and estimated offering expenses. The Company
intends to use the net proceeds from 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.
Wells Fargo Securities, LLC, Barclays Capital Inc., BofA Merrill
Lynch and Citigroup Global Markets Inc. acted as the joint
book-running managers for the offering.
The ordinary shares were offered pursuant to an effective
registration statement (including a prospectus) that the Company
previously filed with the Securities and Exchange Commission. You
may get these documents for free by visiting EDGAR on the SEC
website at http://www.sec.gov. Copies of the final prospectus may
also 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.
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: FOR FURTHER INFORMATION CONTACT:
James E. Lauter
Senior Vice President &
Chief Financial Officer
T: (561) 682-7561
E: James.Lauter@hlss.com
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