debt
confidence high
sentiment neutral
materiality 0.60
UWM issues $500M of 5.750% senior unsecured notes due 2027
UWM Holdings Corp
- $500M aggregate principal, 5.750% coupon, issued at 100% of face value.
- Notes mature June 15, 2027; interest payable semi-annually starting June 15, 2022.
- Senior unsecured obligations not guaranteed by parent UWM Holdings or subsidiaries.
- Change of control triggers 101% repurchase offer; customary covenants including 3.0x fixed charge coverage test.