Simpson Thacher represented Finance of America Companies Inc. (“Finance of America”) and its subsidiaries, including Finance of America Funding LLC (“FOA Funding”), in connection with a comprehensive exchange offer and consent solicitation (the “Exchange Transactions”) of FOA Funding’s existing Senior Notes due 2025 (the “2025 Unsecured Notes”). On October 31, 2024, FOA Funding completed the Exchange Transactions and exchanged approximately $342.6 million of its 2025 Unsecured Notes (representing approximately 97.892% of the outstanding 2025 Unsecured Notes) for approximately $195.78 million aggregate principal amount of new Senior Secured Notes due 2026, approximately $146.79 million aggregate principal amount of new Senior Secured Exchangeable Notes due 2029 and cash consideration.
Finance of America (NYSE: FOA) is a modern retirement solutions platform that provides customers with access to an innovative range of retirement offerings centered on the home. In addition, Finance of America offers capital markets and portfolio management capabilities primarily to optimize the distribution of its originated loans to investors.
The Simpson Thacher team is led by Marisa Stavenas, Sunny Singh, Will Golden and Roxane Reardon, and includes Soogy Lee, Catherine Ciriello, Phil DiDonato and Zachary Weiner (Special Situations); Matt Hart, Julie De Keukeleire and Francisca Johanek (Capital Markets); Jon Pall (Collateral); Arielle Katzman (PCAP); Jonathan Goldstein, Sophie Staples and Kris Liu (Tax); Courtney Welshimer (Intellectual Property); and Jennie Getsin (Blue Sky).