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Rocket Companies Announces Exchange Offers and Consent Solicitations for Any and All of Nationstar Mortgage Holdings Inc.'s 6.500% Senior Notes Due 2029 and 7.125% Senior Notes Due 2032
Rocket CompaniesRocket Companies(US:RKT) Prnewswireยท2025-08-04 14:21

Core Viewpoint - Rocket Companies, Inc. is initiating an exchange offer for existing senior notes in connection with its acquisition of Mr. Cooper Group Inc., aiming to exchange up to $1.75 billion in new senior notes for existing notes totaling $1.75 billion [1][5][13] Exchange Offer Details - The company is offering to exchange $750 million of 6.500% Senior Notes due 2029 and $1 billion of 7.125% Senior Notes due 2032 for new senior notes [1][5] - Eligible holders can receive a cash payment of $2.50 per $1,000 principal amount of existing notes for valid consents delivered by the Early Tender Date [8][9] - The total exchange consideration includes $950 or $1,000 principal amount of new Rocket Notes depending on the timing of consent receipt [9][12] Consent Solicitation - Rocket Companies is soliciting consents for proposed amendments to the indentures governing the existing notes, which include eliminating certain covenants and events of default [5][6] - A majority of the aggregate principal amount of existing notes must consent for the proposed amendments to be adopted [6][13] Timeline and Conditions - The exchange offers and consent solicitations will expire on September 2, 2025, with an early tender date of August 15, 2025 [7][10] - The consummation of the exchange offers is contingent upon receiving the necessary consents and the completion of the acquisition of Mr. Cooper [13][10] New Rocket Notes - The new Rocket Notes will have the same interest rate and maturity date as the existing notes, and will be guaranteed by Rocket Mortgage and its subsidiaries [11][12]