Onity Group — the parent company of PHH Mortgage Corp. and its subsidiary, Liberty Reverse Mortgage — plans to raise $150 million through a debt offering to qualified investors via two of its subsidiaries, the company announced Monday.

PHH Corp. and PHH Escrow Issuer LLC are offering senior notes due in 2029 at an interest rate of 9.875%. The notes will form a single series of debt securities with $500 million in aggregate principal amount of notes originally issued in early November, carrying the same rate and maturity.

PHH Mortgage Corp. (PMC) and PHH details ⇒