CrossCountry Mortgage (CCM) issued $600 million in debt, primarily to repay an outstanding mortgage servicing rights (MSR) line of credit, among other general corporate purposes, the company announced Tuesday.

The transaction, handled through its parent company CrossCountry Intermediate HoldCo., priced the notes at 6.75%. The senior notes are due in 2032 and will be guaranteed on an unsecured basis, meaning they are not backed by collateral.

“The Company expects to use the net proceeds from the offering to repay a portion of the amounts outstanding under CCM’s mortgage servicing rights line of credit, to pay related fees and expenses and details ⇒

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