This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nationstar Announces Pricing Of $100 Million Of Senior Notes Due 2019

Nationstar Mortgage LLC and Nationstar Capital Corporation, both indirectly held, wholly owned subsidiaries of Nationstar Mortgage Holdings Inc. (NYSE: NSM) (together, the “Company”), a leading residential mortgage loan servicer, today announced the pricing of $100,000,000 aggregate principal amount of 9.625% Senior Notes due 2019 (the “Additional Notes”). The Additional Notes are a follow-on issue to the Company’s $275,000,000 aggregate principal amount of 9.625% Senior Notes due 2019 issued on April 25, 2012 (the “Existing Notes”) and form a single series of debt securities with the Existing Notes. The Additional Notes will be issued in a private placement at an offering price of 105.500%, have an effective yield of 8.396% and carry a coupon of 9.625% per annum, payable semi-annually in arrears, beginning November 1, 2012. The offering is expected to close on July 24, 2012, subject to customary closing conditions. The Additional Notes will be unsecured and will be guaranteed on a senior basis by certain of the Company’s wholly owned subsidiaries.

The Company will use the net proceeds from this offering for general corporate purposes, which may include future acquisitions and transfers of servicing portfolios, including, but not limited to, the acquisition of certain residential mortgage servicing assets from Residential Capital, LLC, and/or related businesses from third parties, including, but not limited to, from one or more affiliates of the initial purchasers in this offering.

The Additional Notes and related guarantees have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. Accordingly, the Additional Notes are being offered and sold only to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) and outside the United States to non-U.S. persons in offshore transactions in accordance with Regulation S under the Securities Act. Therefore, the Additional Notes will be subject to restrictions on transferability and resale, and may not be transferred or resold absent an effective registration statement or an applicable exemption from such registration requirements of the Securities Act.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.52 +58.55 0.32%
S&P 500 2,112.25 +3.33 0.16%
NASDAQ 5,064.5860 +4.34 0.09%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs