Nationstar Mortgage in $100 Million Notes Offering

September 28, 2012

Cleary Gottlieb represented Nationstar Mortgage LLC in a high yield debt offering by Nationstar Mortgage LLC and Nationstar Capital Corporation, a wholly owned subsidiary of Nationstar Mortgage LLC (collectively, “Nationstar”). Nationstar issued $100 million of 7.875% Senior Notes due 2020. The notes were sold in a Rule 144A / Regulation S offering with registration rights and constituted a reopening of Nationstar’s $300 million 7.875% Senior Notes due 2020 issued by Nationstar on September 24. The transaction priced on September 25 and closed on September 28. Cleary Gottlieb has represented Nationstar in five other high yield debt offerings since 2010, as well as the $250 million IPO in March 2012 of their parent, Nationstar Mortgage Holdings Inc.

Nationstar is a leading non-bank residential mortgage servicer known for its strong servicer performance and high touch servicing model, which emphasizes borrower interaction to improve loan performance and minimize loan defaults and foreclosures.

Nationstar 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.