Mr. Cooper driving by with $600 million seven-year notes; whisper is low-to-mid 6% area

By Paul A. Harris

Portland, Ore., Jan. 13 – Mr. Cooper Group Inc. plans to sell $600 million of seven-year notes in quick-to-market Monday trade, according to a market source.

Initial guidance has the deal coming to yield in the low-to-mid 6% area.

J.P. Morgan Securities LLC is leading the sale.

The notes come with three years of call protection.

The prospective issuer is a Dallas-based provider of mortgage services, primarily serving the single-family residence market.

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