Simpson Thacher represented Home Point Capital Inc. (“Home Point Capital”) in connection with its offering of $550 million aggregate principal amount of 5% Senior Notes due 2026 pursuant to Rule 144A and Regulation S. Home Point Capital intends to use the net proceeds to fund a distribution to its owners and to repay a portion of outstanding amounts under its mortgage servicing rights financing facility. The offering was upsized from $500 million to $550 million, and the transaction closed on January 19, 2021.
Home Point Capital is a leading residential mortgage originator and servicer focused on driving financially healthy and successful homeownership. Founded in 2015 and headquartered in Ann Arbor, Michigan, Home Point Capital works closely with a nationwide network of more than 5,500 mortgage broker and correspondent partners with deep knowledge and expertise about the communities and customers they serve.
The Simpson Thacher team included Joseph Kaufman, Tony Rim, Catherine Ciriello and Alexander Leicht (Capital Markets); Russell Light, Jacqueline Clinton and Eli Shalam (Tax); Abram Ellis and Laurel Fresquez (Regulatory); Lori Lesser and Elizabeth Gladstone (Intellectual Property); Adeeb Fadil and Timothy Mulvihill (Environmental); and David Rubinsky, Alisa Tschorke and Ashlie Lawton (Executive Compensation and Employee Benefits).