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Mr. Cooper Group Inc. Announces Pricing of Offering of $850 Million of Senior NotesMr. Cooper Group Inc. (NASDAQ: COOP) ("Mr. Cooper") announced the pricing of an offering by Nationstar Mortgage Holdings Inc., a direct wholly-owned subsidiary of Mr. Cooper ("Nationstar") of $850,000,000 5.50% Senior Notes due 2028 (the "Notes"). The Notes will bear interest at 5.50% per annum and will mature on August 15, 2028. Interest on the Notes will be payable semi-annually on February 15 and August 15 of each year, beginning on February 15, 2021. The offering is expected to close on or around August 6, 2020, subject to customary closing conditions. It is expected that the net proceeds of the offering, together with cash on hand, will be used to redeem all $950 million of the outstanding 8.125% Senior Notes due 2023 issued by Nationstar. The Notes will be guaranteed on a joint and several basis by Mr. Cooper and wholly-owned domestic subsidiaries of Nationstar (other than certain excluded subsidiaries). The offering of the Notes was made in reliance upon an exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), in the United States only to investors who are "qualified institutional buyers," as that term is defined in Rule 144A under the Securities Act, or outside the United States pursuant to Regulation S under the Securities Act. Te Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any of the Notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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