NationStar Mortgage in $250 Million Debt Offering

March 26, 2010

Cleary Gottlieb represented NationStar Mortgage in a high yield debt offering by NationStar Mortgage and NationStar Capital Corporation, a wholly owned subsidiary of NationStar Mortgage. NationStar issued $250 million of 10.875% senior notes due 2015. The notes were sold in a Rule 144A / Regulation S offering with registration rights. The transaction priced on March 23 and closed on March 26.

NationStar Mortgage is a high-touch residential mortgage loan servicer with an integrated prime residential mortgage loan originations platform. It is one of the largest independent loan servicers in the United States and services mortgage loans in all 50 states. In the current high-delinquency market, NationStar works to improve recoveries on troubled portfolios through a focus on personal contact with borrowers.

NationStar Mortgage is a Fortress Investment Group portfolio company. Fortress is a leading global alternative assets manager with extensive experience and expertise in the residential mortgage and financial services sectors.