loanDepot driving by with $500 million seven-year senior notes; initial talk low 6% area

By Paul A. Harris

Portland, Ore., March 23 – LD Holdings Group LLC plans to price a $500 million offering of seven-year senior notes in a Tuesday drive-by trailing a conference call with investors, according to market sources.

Initial talk has the deal coming to yield in the low 6% area, a trader said.

Credit Suisse Securities (USA) LLC is the left lead bookrunner. Barclays, BofA Securities Inc., Jefferies LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and UBS Securities LLC are the joint bookrunners.

The Rule 144A and Regulation S notes become callable after three years at par plus 50% of the coupon.

Proceeds will be used for general corporate purposes, including repayment of certain operating debt, and to fund a special dividend to equityholders through a distribution to holders of loanDepot, Inc.’s class A and class D common stock and to holders of Holdco units in the issuer.

LD Holdings Group, through its subsidiary loanDepot, is a Foothill Ranch, Calif.-based technology-empowered online mortgage platform.

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