Mr. Cooper Group Completes $750 Million High Yield Debt Offering
08.02.24
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Simpson Thacher represented Mr. Cooper Group Inc. (“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 $750 million aggregate principal amount of its 6.500% Senior Notes due 2029 (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, Anna Jarman and Jerry Du (Capital Markets); J. Pasco Struhs and Hannah Daniels (Executive Compensation and Employee Benefits); Michael Mann and Kris Liu (Tax); Bobbie Burrows (Intellectual Property); and Ben Wells and James Hahn (’40 Act).