New York-based Rithm Capital Corp., the parent of multichannel mortgage lender Newrez, on Tuesday priced a $500 million offering of senior unsecured notes due in 2031, marking another step to strengthen its balance sheet following a string of recent acquisitions.

Offered exclusively to qualified institutional buyers, the notes carry an 8.5% coupon and are expected to close on May 14, subject to customary closing conditions. Rithm plans to use the net proceeds for general corporate purposes, which may include repaying existing debt.

The notes are senior unsecured obligations, meaning they rank ahead of subordinated debt but behind any secured funding details ⇒

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