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Rocket Companies Announces Early Tender Results of 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 and Receipt of Requisite Consents
Prnewswireยท 2025-08-16 00:02
Core Viewpoint - Rocket Companies, Inc. is conducting tender offers and consent solicitations for the outstanding senior notes of Nationstar Mortgage Holdings Inc. as part of its acquisition of Mr. Cooper Group Inc. [1][10] Tender Offers and Consent Solicitations - The early tender results indicate that as of the Early Tender Deadline, a total of $574.125 million (88.33%) of the 5.125% Senior Notes due 2030 and $534.765 million (89.13%) of the 5.750% Senior Notes due 2031 were validly tendered [2][3]. - The Tender Offers and Consent Solicitations will expire on September 2, 2025, unless extended or terminated earlier [6][8]. Proposed Amendments - The company received the requisite consents to execute supplemental indentures that eliminate the requirement for a "Change of Control" offer, substantially reduce restrictive covenants, and remove certain conditions related to legal defeasance [4][5]. Financial Considerations - Holders of the Early Tender Notes will receive a total tender offer consideration of $1,012.50 per $1,000 principal amount, which includes an early tender payment of $50.00 [3][9]. - Notes tendered after the Early Tender Deadline will receive a lower consideration, excluding the early tender payment [9]. Acquisition Context - The consummation of the Tender Offers and Consent Solicitations is contingent upon the successful completion of the acquisition of Mr. Cooper, as outlined in the Merger Agreement dated March 31, 2025 [10].