Mr. Cooper Group Inc. Announces Pricing of Offering of $850 Million of Senior Notes
August 03 2020 - 6:04PM
Business Wire
Mr. Cooper Group Inc. (NASDAQ: COOP) (“Mr. Cooper”) announced
the pricing of an offering by Nationstar Mortgage Holdings Inc., a
direct wholly-owned subsidiary of Mr. Cooper (“Nationstar”) of
$850,000,000 5.50% Senior Notes due 2028 (the “Notes”). The Notes
will bear interest at 5.50% per annum and will mature on August 15,
2028. Interest on the Notes will be payable semi-annually on
February 15 and August 15 of each year, beginning on February 15,
2021.
The offering is expected to close on or around August 6, 2020,
subject to customary closing conditions. It is expected that the
net proceeds of the offering, together with cash on hand, will be
used to redeem all $950 million of the outstanding 8.125% Senior
Notes due 2023 issued by Nationstar. The Notes will be guaranteed
on a joint and several basis by Mr. Cooper and wholly-owned
domestic subsidiaries of Nationstar (other than certain excluded
subsidiaries).
The offering of the Notes was made in reliance upon an exemption
from the registration requirements of the Securities Act of 1933,
as amended (the “Securities Act”), in the United States only to
investors who are “qualified institutional buyers,” as that term is
defined in Rule 144A under the Securities Act, or outside the
United States pursuant to Regulation S under the Securities Act.
The Notes have not been registered under the Securities Act or the
securities laws of any other jurisdiction and may not be offered or
sold in the United States without registration or an applicable
exemption from registration requirements.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of any
of the Notes in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
Forward-Looking Statements This press release may include
information that could constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Any such forward-looking statements may involve risk and
uncertainties that could cause actual results to differ materially
from any future results encompassed within the forward-looking
statements. Factors that could cause or contribute to such
differences include those matters disclosed in Mr. Cooper’s
Securities and Exchange Commission filings. Past results of Mr.
Cooper are not necessarily indicative of future results. Mr. Cooper
does not undertake any obligation to update any forward-looking
statement.
About Mr. Cooper Group Mr. Cooper Group Inc. (NASDAQ:
COOP) provides quality servicing, origination and transaction-based
services related principally to single-family residences throughout
the United States with operations under its primary brands: Mr.
Cooper® and Xome®. Mr. Cooper is one of the largest home loan
servicers in the country focused on delivering a variety of
servicing and lending products, services and technologies. Xome
provides technology and data enhanced solutions to homebuyers, home
sellers, real estate agents and mortgage companies. For more
information, visit www.mrcoopergroup.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200803005799/en/
Investor Contact: Kenneth Posner, SVP Strategic Planning and
Investor Relations (469) 426-3633 Shareholders@mrcooper.com
Media Contact: Christen Reyenga, VP Corporate Communications
MediaRelations@mrcooper.com
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