Rocket Companies Completes Tender Offer for Nationstar Mortgage Holdings' Senior Notes

Rocket Companies Completes Tender Offer

In a recent announcement, Rocket Companies, Inc. (NYSE: RKT), a prominent player in the fintech space based in Detroit, confirmed the expiry and results of cash tender offers and consent solicitations regarding certain senior notes of Nationstar Mortgage Holdings Inc., a key subsidiary of Mr. Cooper Group. This move highlights Rocket's continued efforts to consolidate its position in the financial services sector.

Overview of the Tender Offers

The tender offers targeted two specific series of senior notes: the 5.125% Senior Notes due in 2030 and the 5.750% Senior Notes due in 2031. The closing time for the tender offers was set at 5:01 PM (Eastern Time) on September 30, 2025. Notably, holders of the notes could not submit tenders after this expiration date, emphasizing the tight timeline for investors and stakeholders.

According to D.F. King & Co., Inc., the company acting as the Depositary and Information Agent for the tender offers, widespread participation was seen. Approximately 88.36% of the 2030 Notes, equating to $574,308,000 in aggregate principal amount, were validly tendered. Additionally, about 89.29% of the 2031 Notes, amounting to $535,765,000, saw similar engagement.

Acceptance and Pricing

The approved notes for purchase were those that had been validly tendered and not withdrawn before the expiration. The anticipated 'Settlement Date' for these transactions is expected to take place on October 1, 2025, coinciding with the expected closing of the Mr. Cooper Acquisition.

Participants who tendered their notes on or before the Early Tender Deadline—5:00 PM on August 15, 2025—will receive a higher repurchase price of $1,012.50 per $1,000 of principal, alongside accrued and unpaid interest from the last payment date. For those who tendered after this early deadline and before the expiration date, the repurchase price stands at $962.50 per $1,000 of principal.

Proposed Amendments to Indenture

Additionally, on the Early Tender Deadline, Rocket Companies secured a sufficient number of consents required to effect certain amendments to the indentures governing the notes. These changes aim to streamline the future business operations surrounding the merger with Mr. Cooper. Key amendments include removing the requirement for a