Finance of America launches exchange offer for $350M 2025 notes, gets 94% participation

Finance of America Companies Inc.

Holders get $571.43/1K of new 7.875% secured notes due 2026, $428.57/1K of 10% exchangeable secured notes due 2029, plus $2.50 cash per $1,000 tendered.
At least 94% of noteholders have agreed or intend to tender; offer expires October 25, 2024.
New secured notes are second-lien until Working Capital Notes repaid, then first-lien; exchange deadline extended to October 31, 2024.
No cash proceeds from issuance; exchanged notes will be retired and cancelled.

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