Rithm Capital Corp. (NYSE: RITM) has announced its plans to offer $775 million aggregate principal amount of senior unsecured notes due 2029. The company intends to utilize a portion of the net proceeds from this offering to reduce its indebtedness, including in connection with a tender offer for up to $275 million aggregate principal amount of its 6.250% senior unsecured notes due 2025. The remainder of the net proceeds will be allocated for general corporate purposes.
Rithm Capital, a global asset manager focused on real estate, credit, and financial services, has reported that it has delivered approximately $5.0 billion in dividends to shareholders since its inception in 2013. The company operates several wholly-owned operating businesses, including Sculptor Capital Management, Inc., an alternative asset manager, NewRez LLC, and Genesis Capital LLC, leading mortgage origination and servicing platforms.
The market has reacted to these announcements by moving the company's shares -0.8% to a price of $10.89. Check out the company's full 8-K submission here.