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Rocket Companies Announces Cash Tender Offers and Consent Solicitations for Any and All of Nationstar Mortgage Holdings Inc.'s 5.125% Senior Notes Due 2030 and 5.750% Senior Notes Due 2031

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Rocket Companies (NYSE: RKT) has launched tender offers to purchase all outstanding 5.125% Senior Notes due 2030 and 5.750% Senior Notes due 2031 from Nationstar Mortgage Holdings, a subsidiary of Mr. Cooper. This action is connected to Rocket's pending acquisition of Mr. Cooper Group Inc.

The tender offers include $650 million of 2030 Notes and $600 million of 2031 Notes. Holders who tender by the Early Tender Deadline of August 15, 2025, will receive the Total Tender Offer Consideration of $1,012.50 per $1,000 principal amount, which includes a $50.00 Early Tender Payment. The offers expire on September 2, 2025.

The company is also seeking consent to amend the notes' indentures, including eliminating change of control requirements and most restrictive covenants. The completion of these offers is contingent upon receiving majority consent and the closing of the Mr. Cooper acquisition.

Rocket Companies (NYSE: RKT) ha avviato offerte pubbliche di acquisto per tutte le obbligazioni Senior Notes al 5,125% con scadenza 2030 e al 5,750% con scadenza 2031 emesse da Nationstar Mortgage Holdings, una controllata di Mr. Cooper. Questa iniziativa è collegata all'acquisizione in corso di Mr. Cooper Group Inc. da parte di Rocket.

Le offerte riguardano 650 milioni di dollari di obbligazioni 2030 e 600 milioni di dollari di obbligazioni 2031. I detentori che aderiranno entro la scadenza anticipata del 15 agosto 2025 riceveranno un corrispettivo totale di 1.012,50 dollari per ogni 1.000 dollari di valore nominale, comprensivo di un pagamento anticipato di 50,00 dollari. Le offerte scadono il 2 settembre 2025.

L'azienda sta inoltre chiedendo il consenso per modificare i regolamenti delle obbligazioni, inclusa l'eliminazione delle clausole di cambio di controllo e delle restrizioni più stringenti. Il completamento delle offerte dipende dall'ottenimento del consenso della maggioranza e dalla conclusione dell'acquisizione di Mr. Cooper.

Rocket Companies (NYSE: RKT) ha lanzado ofertas públicas para comprar todos los Bonos Senior al 5.125% con vencimiento en 2030 y Bonos Senior al 5.750% con vencimiento en 2031 emitidos por Nationstar Mortgage Holdings, una subsidiaria de Mr. Cooper. Esta acción está relacionada con la adquisición pendiente de Mr. Cooper Group Inc. por parte de Rocket.

Las ofertas incluyen 650 millones de dólares en bonos 2030 y 600 millones de dólares en bonos 2031. Los tenedores que acepten antes de la fecha límite anticipada del 15 de agosto de 2025 recibirán una contraprestación total de 1,012.50 dólares por cada 1,000 dólares de valor nominal, que incluye un pago anticipado de 50.00 dólares. Las ofertas expiran el 2 de septiembre de 2025.

La compañía también busca el consentimiento para modificar los contratos de los bonos, incluyendo la eliminación de requisitos por cambio de control y las cláusulas más restrictivas. La finalización de estas ofertas depende de obtener el consentimiento mayoritario y del cierre de la adquisición de Mr. Cooper.

Rocket Companies (NYSE: RKT)� Mr. Cooper� 자회사인 Nationstar Mortgage Holdings가 발행� 5.125% 이자� 2030� 만기 선순� 채권� 5.750% 이자� 2031� 만기 선순� 채권 전량 매입� 위한 공개 매수 제안� 시작했습니다. � 조치� Rocket� 진행 중인 Mr. Cooper Group Inc. 인수와 관련이 있습니다.

공개 매수 대상은 2030� 만기 채권 6� 5천만 달러, 2031� 만기 채권 6� 달러입니�. 2025� 8� 15� 조기 매수 마감일까지 응찰하는 보유자는 1,000달러 원금� � 매수 대� 1,012.50달러� 받으�, 여기에는 50.00달러� 조기 매수 보너�가 포함됩니�. 제안은 2025� 9� 2일에 만료됩니�.

회사� 또한 채권 계약서의 변� 동의� 요청하고 있으�, 여기에는 경영� 변� 요건 � 가� 엄격� 제한 조항 제거가 포함됩니�. � 제안� 완료� 다수 동의와 Mr. Cooper 인수 완료� 달려 있습니다.

Rocket Companies (NYSE : RKT) a lancé des offres publiques d'achat pour acquérir toutes les obligations Senior Notes à 5,125 % échéance 2030 et Senior Notes à 5,750 % échéance 2031 émises par Nationstar Mortgage Holdings, une filiale de Mr. Cooper. Cette opération est liée à l'acquisition en cours de Mr. Cooper Group Inc. par Rocket.

Les offres portent sur 650 millions de dollars d'obligations 2030 et 600 millions de dollars d'obligations 2031. Les détenteurs qui répondront avant la date limite anticipée du 15 août 2025 recevront une contrepartie totale de 1 012,50 dollars pour 1 000 dollars de montant principal, incluant un paiement anticipé de 50,00 dollars. Les offres expirent le 2 septembre 2025.

La société sollicite également le consentement pour modifier les indentures des obligations, notamment pour supprimer les clauses de changement de contrôle et les engagements les plus restrictifs. La réalisation de ces offres dépend de l'obtention d'un consentement majoritaire et de la finalisation de l'acquisition de Mr. Cooper.

Rocket Companies (NYSE: RKT) hat Übernahmeangebote für alle ausstehenden 5,125% Senior Notes fällig 2030 und 5,750% Senior Notes fällig 2031 von Nationstar Mortgage Holdings, einer Tochtergesellschaft von Mr. Cooper, gestartet. Diese Maßnahme steht im Zusammenhang mit der ausstehenden Übernahme von Mr. Cooper Group Inc. durch Rocket.

Die Übernahmeangebote umfassen 650 Millionen USD der 2030er Notes und 600 Millionen USD der 2031er Notes. Inhaber, die bis zur vorzeitigen Angebotsfrist am 15. August 2025 bieten, erhalten eine Gesamtabfindung von 1.012,50 USD pro 1.000 USD Nennwert, inklusive einer 50,00 USD Frühzahlungsprämie. Die Angebote laufen am 2. September 2025 aus.

Das Unternehmen bittet zudem um Zustimmung zur Änderung der Anleihebedingungen, darunter die Abschaffung der Kontrollwechselklauseln und der strengsten Auflagen. Der Abschluss der Angebote hängt von der Mehrheitseinwilligung und dem Abschluss der Mr. Cooper-Übernahme ab.

Positive
  • Strategic acquisition of Mr. Cooper Group strengthens market position
  • Total tender value of $1.25 billion demonstrates strong financial capacity
  • Early tender premium of $50 per $1,000 provides incentive for noteholders
Negative
  • Significant debt obligation of $1.25 billion to complete the tender offers
  • Complex transaction structure requiring multiple stakeholder approvals
  • Removal of protective covenants could reduce noteholder rights

Insights

Rocket's tender offers for Nationstar's notes signal progress in its Mr. Cooper acquisition while managing debt obligations efficiently.

Rocket Companies has launched tender offers to purchase $650 million of Nationstar's 5.125% Senior Notes due 2030 and $600 million of 5.750% Senior Notes due 2031 at $1,012.50 per $1,000 principal amount for early participants. This strategic debt management move is directly connected to Rocket's pending acquisition of Mr. Cooper Group, Nationstar's parent company.

The timing here is particularly important - these tender offers will expire on September 2, 2025, with an early tender deadline of August 15, 2025 offering a $50 premium per $1,000 principal. Rocket is simultaneously soliciting consents to amend the notes' indentures, eliminating change-of-control provisions that would otherwise be triggered by the acquisition.

The pricing structure is telling - offering approximately 101.25 cents on the dollar represents a modest premium to incentivize noteholders to participate, while being financially manageable for Rocket. The consent solicitation aims to secure agreement from holders of at least a majority of outstanding notes, giving Rocket flexibility in its capital structure post-acquisition.

This transaction indicates the Mr. Cooper acquisition is progressing toward completion. By proactively addressing these outstanding notes, Rocket is removing potential obstacles and streamlining its post-merger debt structure. The amendments will eliminate restrictive covenants, providing Rocket greater operational flexibility once the acquisition closes.

DETROIT, Aug. 4, 2025 /PRNewswire/ -- Rocket Companies, Inc. (NYSE:RKT) (the "Company" or "Rocket Companies"), the Detroit-based fintech platform including mortgage, real estate, title and personal finance businesses, in connection with its pending acquisition of Mr. Cooper Group Inc. ("Mr. Cooper"), has commenced the tender offers (collectively, the "Tender Offers") to purchase for cash any and all of the outstanding (i) 5.125% Senior Notes due 2030 (the "2030 Notes") and (ii) 5.750% Senior Notes due 2031 (the "2031 Notes" and, together with the 2030 Notes, the "Notes") of Nationstar Mortgage Holdings Inc. ("Nationstar"), a subsidiary of Mr. Cooper.

In connection with the Tender Offers, the Company is also soliciting (collectively, the "Consent Solicitations") from holders of the Notes consents (the "Consents") to certain proposed amendments to the indenture, dated as of December 4, 2020 (the "2030 Notes Indenture"), which governs the 2030 Notes, and certain proposed amendments to the indenture, dated as of November 4, 2021 (the "2031 Notes Indenture" and together with the 2030 Notes Indenture, the "Indentures"), which governs the 2031 Notes, to (i) eliminate the requirement to make a "Change of Control" offer for the related Notes following the consummation of the Company's acquisition of Mr. Cooper and future transactions, (ii) eliminate substantially all of the restrictive covenants in the applicable Indenture and the Notes, (iii) eliminate certain conditions to legal defeasance or covenant defeasance in the applicable Indenture and the Notes and (iv) eliminate all events of default other than events of default relating to the failure to pay principal of and interest on the Notes (collectively, the "Proposed Amendments"). The terms and conditions of the Tender Offers and Consent Solicitations are described in an Offer to Purchase and Consent Solicitation Statement, dated August 4, 2025 (the "Offer to Purchase and Consent Solicitation Statement"). The following table summarizes the material pricing terms of the Tender Offers.

CUSIP/ISIN*

Title of Notes

Aggregate Principal

Amount

Outstanding

Tender Offer

Consideration(1)(2)

Early Tender

Payment(1)(3)

Total Tender

Offer

Consideration(1)(2)

Registered Notes:
CUSIP: 63861CAD1/
U6377NAC2
ISIN:
US63861CAD11/
USU6377NAC21

5.125% Senior
Notes due 2030

US$650,000,000

$962.50

$50.00

$1,012.50

Registered Notes:
CUSIP: 63861CAE9/
U6377NAD0
ISIN:
US63861CAE93/
USU6377NAD04

5.750% Senior
Notes due 2031

US$600,000,000

$962.50

$50.00

$1,012.50

_____________________

(1)


Per $1,000 principal amount of Notes tendered and accepted for purchase.

(2)


Does not include accrued and unpaid interest from the last date on which interest has been paid to, but excluding, the Settlement Date (as defined in the Offer to Purchase and Consent Solicitation Statement) that will be paid on the Notes accepted for purchase.

(3)


Included in the Total Tender Offer Consideration for Notes tendered and accepted for purchase at or prior to the Early Tender Deadline.

*


CUSIPs are provided for the convenience of Holders. No representation is made as to the correctness or accuracy of such numbers.

The Tender Offers and Consent Solicitations will expire at 5:00 p.m., New York City time, on September 2, 2025, unless extended or earlier terminated by the Company (the "Expiration Date"). No tenders submitted after the Expiration Date will be valid. Subject to the terms and conditions of the Tender Offers, holders of Notes that are validly tendered (and not validly withdrawn) on or prior to 5:00 p.m., New York City time, on August 15, 2025 (such date and time, as it may be extended, the "Early Tender Deadline") and accepted for purchase pursuant to the Tender Offers will be eligible to receive the Total Tender Offer Consideration set forth in the table above, which includes the Early Tender Payment set forth in the table above. Holders of Notes tendering their Notes after the Early Tender Deadline and on or prior to the Expiration Date will only be eligible to receive the Tender Offer Consideration set forth in the table above, which is the Total Tender Offer Consideration less the Early Tender Payment.

In addition, holders of all Notes validly tendered and accepted for purchase pursuant to the Tender Offers will receive accrued and unpaid interest on such Notes from the last interest payment date with respect to such Notes to, but excluding, the Settlement Date.

In order for the Proposed Amendments to be adopted for any series of Notes, Consents must be received in respect of at least a majority of the aggregate principal amount of such series of Notes then outstanding (excluding Notes owned by Nationstar, or by any person directly or indirectly controlling or controlled by or under direct or indirect common control with Nationstar) (the "Requisite Consents"). Assuming receipt of the Requisite Consents,Nationstar expects to execute and deliver a supplemental indenture to each Indenture giving effect to the Proposed Amendments (each, a "Supplemental Indenture"), promptly following the receipt of the Requisite Consents. Each Supplemental Indenture will become effective upon execution, but will provide that the applicable Proposed Amendments will not become operative until the Company accepts for purchase the Notes satisfying the Requisite Consents in the Tender Offers.

The consummation of the Tender Offers and Consent Solicitations for the Notes of any series are subject to, and conditioned upon, the satisfaction or waiver of certain conditions described in the Offer to Purchase and Consent Solicitation Statement, including, among other things, (a) the receipt of the Requisite Consents for such series of Notes, the execution by Nationstar and the applicable trustee of the Supplemental Indenture for such series of Notes implementing the Proposed Amendments to the applicable Indenture and such Supplemental Indenture remaining a valid and binding agreement in full force and effect and (b) the substantially concurrent consummation of the acquisition of Mr. Cooper on terms and conditions set forth in the Agreement and Plan of Merger, dated as of March 31, 2025 (as it may be amended from time to time, the "Merger Agreement"), by and among the Company, Maverick Merger Sub, Inc., Maverick Merger Sub 2, LLC, and Mr. Cooper.

Any Notes validly tendered and related Consents validly delivered may be withdrawn or revoked from the applicable Tender Offers and the Consent Solicitations on or prior to the Early Tender Deadline. Any Notes validly tendered and related Consents validly delivered on or prior to the Early Tender Deadline that are not validly withdrawn or validly revoked prior to the Early Tender Deadline may not be withdrawn or revoked thereafter, except as required by law. In addition, any Notes validly tendered and related Consents validly delivered after the Early Tender Deadline may not be withdrawn or revoked, except as required by law.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

J.P. Morgan Securities LLC is the dealer manager and solicitation agent (the "Dealer Manager") in the Tender Offers and Consent Solicitations. D.F. King & Co., Inc. has been retained to serve as both the depositary and the information agent (the "Depositary and Information Agent") for the Tender Offers and Consent Solicitations. Questions regarding the Tender Offers and Consent Solicitations should be directed to the Dealer Manager at (866) 834-4666 (Toll-Free) or (212) 834-7489 (Telephone). Requests for copies of the Offer to Purchase and Consent Solicitation Statement and other related materials should be directed toD.F. King & Co., Inc. at [email protected] (email), (800) 549-6864 (U.S. Toll-Free) or (212) 390-0450 (Banks and Brokers).

None of Rocket Companies, its board of directors, Mr. Cooper and each of Mr. Cooper's direct and indirect domestic, wholly owned subsidiaries that are issuers or guarantors under the Notes, Nationstar, Rocket Mortgage, LLC ("Rocket Mortgage"), each of Rocket Mortgage's direct and indirect domestic, wholly owned subsidiaries that are issuers or guarantors under Rocket Mortgage's existing senior notes and Redfin Corporation, the Dealer Manager, the Depositary and Information Agent, the Trustee under each Indenture, or any of their affiliates, makes any recommendation as to whether holders of the Notes should tender any Notes in response to the Tender Offers and Consent Solicitations. The Tender Offers and Consent Solicitations are made only by the Offer to Purchase and Consent Solicitation Statement. The Tender Offers and Consent Solicitations are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the Tender Offers and Consent Solicitations are required to be made by a licensed broker or dealer, the Tender Offers and Consent Solicitations will be deemed to be made on behalf of the Company by the Dealer Manager or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

Forward-Looking Statements

This press release contains statements herein regarding the proposed transaction between Rocket Companies and Mr. Cooper. Future financial and operating results; benefits and synergies of the transaction; future opportunities for the combined company; the conversion of equity interests contemplated by the Merger Agreement; the issuance of common stock of Rocket Companies contemplated by the Merger Agreement; the expected timing of the closing of the proposed transaction; the ability of the parties to complete the proposed transaction considering the various closing conditions and any other statements about future expectations that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements in this communication, other than statements of historical fact, are forward-looking statements that may be identified by the use of words "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. Such forward-looking statements are based upon current beliefs, expectations and discussions related to the proposed transaction and are subject to significant risks and uncertainties that could cause actual results to differ materially from the results expressed in such statements.

Risks and uncertainties include, among other things, (i) the risk that the proposed transaction may not be completed in a timely basis or at all, which may adversely affect Rocket Companies' and Mr. Cooper's businesses and the price of their respective securities; (ii) the potential failure to receive, on a timely basis or otherwise, the required approvals of the proposed transaction, including stockholder approval by Mr. Cooper's stockholders, and the potential failure to satisfy the other conditions to the consummation of the proposed transaction; (iii) the effect of the announcement, pendency or completion of the proposed transaction on each of Rocket Companies' or Mr. Cooper's ability to attract, motivate, retain and hire key personnel and maintain relationships with others with whom Rocket Companies or Mr. Cooper does business, or on Rocket Companies' or Mr. Cooper's operating results and business generally; (iv) that the proposed transaction may divert management's attention from each of Rocket Companies' and Mr. Cooper's ongoing business operations; (v) the risk of any legal proceedings related to the proposed transaction or otherwise, including the risk of stockholder litigation in connection with the proposed transaction, or the impact of the proposed transaction thereupon, including resulting expense or delay; (vi) that Rocket Companies or Mr. Cooper may be adversely affected by other economic, business and/or competitive factors; (vii) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, including in circumstances which would require payment of a termination fee; (viii) the risk that restrictions during the pendency of the proposed transaction may impact Rocket Companies' or Mr. Cooper's ability to pursue certain business opportunities or strategic transactions; (ix) the anticipated tax treatment of the proposed transaction may not be obtained, risks associated with third party contracts containing consent and/or other provisions that may be triggered by the proposed transaction; (x) the risk that the anticipated benefits and synergies of the proposed transaction may not be fully realized or may take longer to realize than expected; (xi) the impact of legislative, regulatory, economic, competitive and technological changes; (xii) risks relating to the value of Rocket Companies securities to be issued in the proposed transaction; (xiii) the risk that integration of the Rocket Companies and Mr. Cooper businesses post-closing may not occur as anticipated or the combined company may not be able to achieve the anticipated synergies expected from the proposed transaction, and the costs associated with such integration; and (xiv) the effect of the announcement, pendency or completion of the proposed transaction on the market price of the common stock of each of Rocket Companies and Mr. Cooper.

These risks, as well as other risks related to the proposed transaction, are more fully described in a registration statement on Form S-4/A (the "Registration Statement") filed by Rocket Companies with the Securities and Exchange Commission (the "SEC") on July 25, 2025 in connection with the proposed transaction. While the list of factors presented here and the list of factors presented in the Registration Statement are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Additional factors that may affect future results are contained in each company's filings with the SEC, including each company's most recent Annual Report on Form 10-K and Form 10-K/A, as it may be updated from time to time by quarterly reports on Form 10-Q and current reports on Form 8-K, all of which are available at the SEC's website . The information set forth herein speaks only as of the date hereof, and any intention or obligation to update any forward-looking statements as a result of developments occurring after the date hereof is hereby disclaimed.

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SOURCE Rocket Companies, Inc.

FAQ

What is the total value of notes Rocket Companies (RKT) is offering to purchase?

Rocket Companies is offering to purchase $1.25 billion in total notes, consisting of $650 million of 5.125% Senior Notes due 2030 and $600 million of 5.750% Senior Notes due 2031.

What is the early tender payment being offered by Rocket Companies (RKT)?

Rocket Companies is offering an early tender payment of $50.00 per $1,000 principal amount of notes for holders who tender by August 15, 2025.

When do Rocket Companies' (RKT) tender offers expire?

The tender offers will expire at 5:00 p.m., New York City time, on September 2, 2025, unless extended or terminated earlier.

What are the key conditions for Rocket Companies' (RKT) tender offers to be completed?

The key conditions include receiving majority consent from noteholders and the concurrent completion of Rocket's acquisition of Mr. Cooper Group.

What changes is Rocket Companies (RKT) proposing to the notes' indentures?

Rocket Companies is proposing to eliminate the Change of Control offer requirement, remove most restrictive covenants, modify defeasance conditions, and limit events of default to principal and interest payment failures.
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