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Rocket Companies Announces Cash Tender Offers and Consent Solicitations for Any and All of Nationstar Mortgage Holdings Inc.'s 5.125% Senior Notes Due 2030 and 5.750% Senior Notes Due 2031
Prnewswireยท 2025-08-04 14:21
Core Viewpoint - Rocket Companies, Inc. is initiating tender offers to acquire outstanding senior notes from Nationstar Mortgage Holdings Inc. as part of its acquisition of Mr. Cooper Group Inc. [1][2] Tender Offers - The company is offering to purchase 5.125% Senior Notes due 2030 and 5.750% Senior Notes due 2031, with aggregate principal amounts of US$650 million and US$600 million respectively [3][4] - The tender offer consideration for both notes is set at $962.50 per $1,000 principal amount, with an early tender payment of $50, bringing the total tender offer consideration to $1,012.50 for early tenders [3][4] Consent Solicitations - The company is soliciting consents to amend the indentures governing the notes, which includes eliminating the "Change of Control" offer requirement and most restrictive covenants [2][9] - A majority of the aggregate principal amount of the notes must provide consent for the proposed amendments to be adopted [9] Timeline and Conditions - The tender offers and consent solicitations will expire on September 2, 2025, with an early tender deadline of August 15, 2025 [7][11] - The consummation of the tender offers is contingent upon receiving the requisite consents and the successful completion of the acquisition of Mr. Cooper [10]