Nationstar Mortgage in $100 Million Notes Offering

July 24, 2012

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 (collectively, “Nationstar”). Nationstar issued $100 million of 9.625% Senior Notes due 2019. The notes were sold in a Rule 144A / Regulation S offering with registration rights and constituted a reopening of Nationstar’s $250 million 9.625% Senior Notes due 2019 issued by Nationstar on April 25 (the “Original Issuance”). The transaction priced on July 19 and closed on July 24. Cleary Gottlieb also represented Nationstar in the Original Issuance and the $250 million IPO in March of their parent, Nationstar Mortgage Holdings.

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.