Maverick Merger Sub 2, LLC: debt financing — Mr. Cooper subsidiary issues $1B 7.125% Senior Notes due 2032 to repay MSR facilities

Maverick Merger Sub 2, LLC

Nationstar Mortgage Holdings issued $1,000,000,000 of 7.125% Senior Notes maturing February 1, 2032.
Interest payable semi-annually on Feb 1 and Aug 1, beginning Aug 1, 2024.
Net proceeds used to repay a portion of amounts outstanding under MSR facilities.
Notes are senior unsecured, fully and unconditionally guaranteed by Mr. Cooper Group and certain domestic subsidiaries.
Indenture includes customary non-investment grade covenants and a change-of-control put at 101% of principal.

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

Maverick Merger Sub 2, LLC incurred senior notes of $1,000,000,000 aggregate principal amount at 7.125% per year maturing February 1, 2032.

Instrument: senior notes
Principal: $1,000,000,000 aggregate principal amount
Rate: 7.125% per year
Maturity: February 1, 2032
Event: incurrence

Exact text from the filing

On February 1, 2024, Nationstar Mortgage Holdings Inc. (the “Issuer”), a wholly-owned subsidiary of Mr. Cooper Group Inc. (the “Company”), closed the previously announced offering (the “Offering”) of $1,000,000,000 aggregate principal amount of the Issuer’s 7.125% Senior Notes due 2032 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Maverick Merger Sub 2, LLC entered into Indenture with Computershare Trust Company, N.A. valued at $1,000,000,000 (effective 2024-02-01).

Action: entry
Agreement: notes offering
Counterparty: Computershare Trust Company, N.A.
Value: $1,000,000,000
Effective: 2024-02-01

Exact text from the filing

The Notes were issued pursuant to the Indenture, dated as of February 1, 2024 (the “Indenture”), among the Company, the Issuer, the subsidiary guarantors party thereto and Computershare Trust Company, N.A., as trustee (the “Trustee”).

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Source: SEC EDGAR

accession 0001193125-24-021883

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