Nationstar Mortgage Holdings Inc. (NYSE:NSM) (“Nationstar”), a leading residential mortgage loan servicer, announced today that its wholly-owned subsidiaries Nationstar Mortgage LLC and Nationstar Capital Corporation (together, the “Issuers”) successfully completed the solicitation of consents to amend the indenture dated as of March 26, 2010, as further supplemented (the “Indenture”) from holders of record at 5:00 p.m., New York City time, on August 23, 2012 (the “Record Date”) of the Issuers’ 10.875% Senior Notes due 2015, CUSIP 63860U AB6 (the “Notes”).
The consent solicitation expired at 5:00 p.m., New York City time, on August 31, 2012 (the “Expiration Date”). Holders of the Notes who validly delivered their consent prior to the Expiration Date and did not revoke their consent prior to the execution of the supplemental indenture to the Indenture (the “Fifth Supplemental Indenture”) will receive a consent fee of $30 for each $1,000 principal amount of Notes for which consent was validly delivered and not validly revoked. The Issuers expect to pay the consent fee on September 5, 2012.
The Issuers received and accepted consents from holders of at least a majority of the aggregate principal amount of the Notes outstanding as of the Record Date. In accordance with the terms of the consent solicitation, on August 30, 2012, the Issuers, each of the guarantors party thereto and Wells Fargo Bank, National Association, the trustee under the Indenture, entered into the Fifth Supplemental Indenture, implementing the amendments. The terms of the Fifth Supplemental Indenture are effective with respect to all holders of the Notes, including non-consenting holders and all subsequent holders of the Notes.
As more fully described in the Consent Solicitation Statement dated as of August 24, 2102, the amendments conform the Indenture’s covenants to those covenants contained in the indenture governing the Issuers’ 9.625% Senior Notes due 2019. The amendments provide the Issuers with additional flexibility to raise additional debt financing and enter into other transactions.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV