Onity Group, the parent company of PHH Mortgage Corp. and Liberty Reverse Mortgage, announced this week that it will offer $500 million in senior notes due in 2029. The proceeds from this note sale, along with additional cash from the company, will be used to pay off older debt with higher interest rates.
The deal was first announced on Monday, when Onity estimated the value of the notes would come in at $475 million. Onity will sell its 15% stake in MSR Asset Vehicle LLC (MAV) to Oaktree Capital details ⇒
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