United Shore Financial talks $800 million five-year notes at 5¼% area; pricing Wednesday

By Paul A. Harris

Portland, Ore., Oct. 28 – United Shore Financial Services, LLC talked its $800 million offering of five-year senior notes (Ba3//B+) to yield in the 5¼% area, according to a syndicate source.

Books close at 2 p.m. ET on Wednesday.

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.

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

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