secwatch.observer — SEC 8-K summary
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Issuer:     ONITY GROUP INC. (ONIT)
CIK:        0000873860
Form:       8-K
Filed at:   2024-10-23T23:59:59+00:00
Accession:  0001493152-24-042236
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Onity subsidiary prices $500M of 9.875% senior notes due 2029 to refinance debt
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- $500M aggregate principal, 9.875% coupon, due 2029; priced at 99.556% of par.
- Close expected Nov 6, 2024; proceeds placed in escrow pending MAV sale of 15% stake in MSR Asset Vehicle LLC to Oaktree.
- Proceeds plus MAV sale cash to redeem PHH Mortgage 7.875% notes due 2026 and Onity 12.00%/13.25% second lien notes due 2027.
- Upon escrow release, PHH Corp becomes co-issuer; Onity and certain subsidiaries guarantee the notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/873860/000149315224042236/0001493152-24-042236-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/873860/000149315224042236/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-042236

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