UWM Holdings Announces $600M Senior Notes Offering

By Tamara Parker • Thursday, September 11 17:14 • Permanent Link

UWM Holdings Corporation (NYSE: UWMC) has announced the commencement of a private offering of $600 million aggregate principal amount of senior notes due 2031. This offering represents a significant financial move for the company, as the net proceeds from the offering, along with borrowings from its MSR facilities, are expected to be used to repay the 5.5% senior notes due 2025 at maturity on November 15, 2025.

The notes will be guaranteed on a senior unsecured basis by UWM Holdings' wholly-owned subsidiary, United Wholesale Mortgage, LLC (United Wholesale Mortgage), and will rank pari passu in right of payment with United Wholesale Mortgage's existing senior unsecured notes due to this guarantee.

It is worth noting that the notes will be offered only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933 and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. The notes have not been registered under the Securities Act or the securities laws of any other jurisdiction.

This financial move comes as UWM Holdings Corporation continues to make significant strides in the mortgage lending industry. United Wholesale Mortgage is the nation's largest home mortgage lender by closed loan volume, having held the position of the largest wholesale mortgage lender in the nation by closed loan volume for nine consecutive years. Additionally, it is the largest purchase lender in the nation by closed loan volume.

With a focus on continuous innovation of technology and enhanced client experience, United Wholesale Mortgage leads the market by building upon its proprietary and exclusively licensed technology platforms, superior service, and focused partnership with the independent mortgage broker community. The company originates primarily conforming and government loans across all 50 states and the District of Columbia.

This financial offering signals UWM Holdings Corporation's strategic approach to managing its debt obligations and maintaining its position in the mortgage lending market. It reflects the company's forward-looking approach to capital management and financial health. Today the company's shares have moved 3.46% to a price of $7.035. Check out the company's full 8-K submission here.

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