Rithm Capital Corp. (RITM): debt financing — Rithm closes $775M 8% notes due 2029, repurchases $275M of 6.25% notes via tender

Rithm Capital Corp.

Closed $775M private offering of 8.000% senior unsecured notes due 2029, payable semi-annually.
Used $275M of net proceeds plus cash to repurchase $275M of 6.250% notes due 2025 via tender offer (prorated at 56.9%).
$483.6M of 2025 notes tendered, exceeding the $275M cap; remaining $275M outstanding.
Notes mature April 1, 2029; redeemable at make-whole prior to April 2026, then at declining premiums.
New notes are senior unsecured, ranking equally with existing senior unsecured and senior to subordinated debt.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Rithm Capital Corp. incurred senior notes of $775 million aggregate principal amount with U.S. Bank Trust Company, National Association at 8.000% per annum maturing April 1, 2029.

Instrument: senior notes
Principal: $775 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 8.000% per annum
Maturity: April 1, 2029
Event: incurrence

Exact text from the filing

On March 19, 2024, Rithm Capital Corp. (the “Company”) closed its previously announced private offering of $ 775 million aggregate principal amount of 8.000 % senior unsecured notes due 20 29 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Rithm Capital Corp. entered into Indenture with U.S. Bank Trust Company, National Association valued at $775 million aggregate principal amount of 8.000% senior unsecured notes due 2029 (effective 2024-03-19).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $775 million aggregate principal amount of 8.000% senior unsecured notes due 2029
Effective: 2024-03-19

Exact text from the filing

On March 19, 2024, Rithm Capital Corp. (the “Company”) closed its previously announced private offering of $ 775 million aggregate principal amount of 8.000 % senior unsecured notes due 20 29 (the “Notes”).

View on SEC.gov

299 debt financings filed in the last 30 days. Browse all debt financings →

Rithm Capital Corp. filing history →

Source: SEC EDGAR

accession 0001140361-24-014140

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