Onity closes sale of 15% MAV stake to Oaktree for $49.5M; refinances $574M in debt

ONITY GROUP INC.

Sold 15% interest in MSR Asset Vehicle to Oaktree for $49.5M cash; PHH Mortgage remains exclusive subservicer for 5 years.
Issued $500M of 9.875% Senior Notes due 2029; escrow released, proceeds used to redeem $289M of 7.875% notes due 2026.
Also redeemed all $285M of Onity's 12.00%/13.25% Senior Second Lien Notes due 2027 using proceeds and cash.
New capital structure expected to support future earnings growth and provide financial flexibility.

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