Planet Financial Group, the parent company of Planet Home Lending, completed the issuance of $475 million in senior unsecured notes this week, the latest mortgage company to raise debt in an oversubscribed transaction. The company’s initial target for the offering was $400 million. 

The notes, which carry a 10.5% interest rate, are due in December 2029. Proceeds from the issuance are expected to repay outstanding senior secured debt. A representative at the company did not immediately reply to HousingWire‘s request for comments. 

Following the transaction, Fitch Ratings assigned the company a long-term issuer default rating of B+ details ⇒

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