Onity Group Announces Pricing of $500 Million of Senior Notes Due 2029
Onity Group Inc. (ONIT)
Company Research
Source: GlobeNewswire
WEST PALM BEACH, Fla., Oct. 23, 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”), priced the previously announced offering of $500 million aggregate principal amount of 9.875% Senior Notes due 2029 (the “Notes”). The price to investors will be 99.556% of the principal amount of the Notes. The issuance and sale of the Notes is expected to close on November 6, 2024, subject to customary closing conditions. The Notes will initially be issued by Escrow Issuer. The net proceeds from the sale of the Notes, together with additional cash from Onity, are expected to be placed into escrow pending the satisfaction of certain conditions, including, but not limited to, the consummation of the recently announced sale by Onity of its 15% ownership interest in MSR Asset Vehicle LLC to certain funds
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- 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
- Onity Group Announces Closing of $500 Million of Senior Notes Due 2029GlobeNewswire
- Onity Group Announces Third Quarter 2024 ResultsGlobeNewswire
- Onity Group Schedules Conference Call – Third Quarter 2024 Results and Business UpdateGlobeNewswire
- Onity Group Announces Proposed Offering of $475 Million of Senior Notes Due 2029GlobeNewswire