United Shore to sell $800 million five-year notes Oct. 26 week

By Paul A. Harris

Portland, Ore., Oct. 26 – United Shore Financial Services, LLC was set to roll out an $800 million offering of five-year senior notes on a late Monday morning conference call with investors, according to a syndicate source.

The deal prices later in the Oct. 26 week.

Joint bookrunner UBS Securities LLC will bill and deliver. J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are also joint bookrunners.

The Rule 144A and Regulation S for life notes become callable after two years at par plus 50% of the coupon.

Credit ratings remain to be determined.

The Pontiac, Mich., residential and wholesale mortgage lender plans to use the proceeds for general corporate purposes.

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