Mr. Cooper/Nationstar Mortgage driving by with $800 million eight-year notes; talk 7 3/8% area

By Paul A. Harris

Portland, Ore., Jan. 29 – Nationstar Mortgage Holdings Inc. plans to price an $800 million offering of Mr. Cooper senior notes due 2032 (B1/B/BB) in a Monday drive-by trailing a conference call with investors, according to market sources.

The deal is in the market with initial guidance in the 7 3/8% area.

The Rule 144A and Regulation S for life eight-year notes come with three years of call protection.

Goldman Sachs & Co. LLC is the left bookrunner. Barclays, BofA Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Piper Sandler Co. and Wells Fargo Securities LLC are the joint bookrunners.

Proceeds will be used to repay a portion of amounts outstanding under the MSR facilities.

© 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.