Onity Group Announces Closing of $500 Million of Senior Notes Due 2029
Onity Group Inc. (ONIT)
Company Research
Source: GlobeNewswire
WEST PALM BEACH, Fla., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Onity Group Inc. (NYSE: ONIT) (“Onity”), a leading non-bank mortgage servicer and originator, today announced that PHH Escrow Issuer LLC (“Escrow Issuer”), a wholly-owned special purpose subsidiary of PHH Corporation (“PHH”), closed the previously announced offering of $500 million aggregate principal amount of 9.875% Senior Notes due 2029 (the “Notes”). Glen A. Messina, Chair, President and CEO of Onity Group, said, “We have made significant progress in enhancing our capital structure through the successful completion of this debt issuance and other previously announced transactions. The strong level of investor interest, particularly from new investors, in our debt issuance is a testament to the successful transformation of our business, which is driving strong earnings, cash flow and returns. The effective yield on our new corporate debt structure is nearly 300 basis points better, which will enable our Company to grow fut
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News
- Onity Group (NYSE: ONIT) had its price target raised by analysts at Keefe, Bruyette & Woods from $40.00 to $45.00. They now have an "outperform" rating on the stock.MarketBeat
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- Onity Group Announces Pricing of $500 Million of Senior Notes Due 2029GlobeNewswire
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