Mr. Cooper Group Completes $1 Billion High Yield Debt Offering
02.05.24
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Simpson Thacher represented Mr. Cooper Group Inc. (NASDAQ: COOP) (“Mr. Cooper”) and its wholly owned subsidiary Nationstar Mortgage Holdings Inc. (the “Issuer”) in connection with the Rule 144A/Regulation S offering by the Issuer of $1 billion aggregate principal amount of its 7.125% Senior Notes due 2032 (the “Notes”). The Issuer intends to use the net proceeds from the sale of the Notes to repay a portion of the amounts outstanding under Mr. Cooper’s MSR debt facilities.
Mr. Cooper provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper and Xome. Mr. Cooper is one of the largest home loan servicers in the country focused on delivering a variety of servicing and lending products, services and technologies. Xome provides technology and data enhanced solutions to homebuyers, home sellers, real estate agents and mortgage companies.
The Simpson Thacher team included Richard Fenyes and Maggie Selbe (Capital Markets); J. Pasco Struhs and Hannah Daniels (Executive Compensation and Employee Benefits); Michael Mann and Kris Liu (Tax); Bobbie Burrows (Intellectual Property); Abram Ellis and Laurel Fresquez (Regulatory); and Ben Wells and James Hahn (Registered Funds).