Ocwen Financial to launch amended and extended term loan B on Tuesday

By Sara Rosenberg

New York, Jan. 10 – Ocwen Financial Corp. will hold a lender call at 10 a.m. ET on Tuesday to launch an amendment and extension of its existing senior secured term loan B, according to a market source.

Barclays is the agent on the deal.

Through this transaction, the company is asking to extend the maturity of the term loan B to May 2022 from December 2020.

The term loan B is sized at $326 million, but the company will make a minimum $103.4 million paydown of the term loan at closing, plus an additional dollar-for-dollar paydown for the amount of the term loan extended above a 90% minimum extension threshold, the source said.

Ocwen is a West Palm Beach, Fla.-based non-bank mortgage servicer and originator.

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