Mr. Cooper (Nationstar) to redeem $950 million of 8 1/8% senior notes

By Taylor Fox

New York, Aug. 4 – Mr. Cooper Group Inc.’s wholly owned subsidiary, Nationstar, intends to redeem all $950 million of its 8 1/8% outstanding senior notes due 2023 on Aug. 13, according to an 8-K filing with the securities and exchange commission.

The redemption is conditioned upon the consummation of the incurrence by Nationstar of additional debt yielding net proceeds that are sufficient, together with cash on hand, to pay the redemption price for the 2023 notes.

Wells Fargo Bank, NA is trustee.

Mr. Cooper is a Dallas-based provider of mortgage services, primarily serving the single-family residence market.

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