Finance of America to exchange $350M unsecured notes for secured debt; 93% support

Finance of America Companies Inc.

Initial 71.1% noteholder support for exchange of $350M 7.875% senior notes due 2025; Libman Parties added to total 93.1%.
New securities: up to $200M 7.875% Senior Secured First Lien Notes due 2026 (step-up to 8.875%/9.875%) and up to $150M 10.000% Exchangeable Senior First Lien Notes due 2029.
Consent solicitation to eliminate substantially all covenants and events of default in the existing indenture.
Stockholders approved issuance of shares underlying exchangeable notes via written consent, effective upon note issuance.

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