Stearns Lending plans roadshow for $200 million seven-year notes offer

By Paul A. Harris

Portland, Ore., July 24 - Stearns Lending, Inc. is conducting a roadshow for its $200 million offering of seven-year senior secured notes through the week ahead, according to an informed source.

Jefferies LLC is the bookrunner for the Rule 144A and Regulation S for life deal.

The notes will become callable in three years at par plus 75% of the coupon.

The issuing entity will be Stearns Holdings, Inc.

The Santa Ana, Calif.-based independent mortgage origination and servicing company plans to use the proceeds to refinance debt and for general corporate purposes including the acquisition of additional servicing rights from third parties.

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