WMIH redeems $18.23 million remaining 13% second-lien notes due 2030

By Susanna Moon

Chicago, Oct. 3 – WMIH Corp., successor to WMI Holdings Corp., redeemed its $18,226,500 principal amount of remaining 13% senior second-lien notes due 2030.

WMIH used “runoff” proceeds and unrestricted corporate cash to fund the redemption, according to a company notice on Tuesday.

After the repayment, the company said it has redeemed all of the runoff notes that were issued in connection with emerging from its bankruptcy in March 2012.

Seattle-based WMI Holdings was a reinsurance business operating through its subsidiary WM Mortgage Reinsurance Co.

According to the company’s website, WMIH is the direct parent of WM Mortgage Reinsurance Co., Inc., a Hawaii corporation, and WMI Investment Corp., a Delaware corporation. On March 19, 2012, WMIH emerged from bankruptcy as the successor to Washington Mutual, Inc. with limited operations other than a legacy reinsurance business, which is being operated in runoff mode with no new business since Sept. 26, 2008.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.