Rocket Companies, Inc. has announced the conditional redemption of three series of senior notes issued by Nationstar Mortgage Holdings Inc., a wholly-owned subsidiary of Mr. Cooper Group Inc. The redemption is subject to the pending acquisition of Mr. Cooper and is expected to take place on October 1, 2025.
Following the acquisition, Rocket Companies will undergo an internal reorganization, with Nationstar contributing all its assets and liabilities to Rocket Mortgage, LLC, an indirect wholly-owned subsidiary of Rocket Companies. Rocket Mortgage will assume the obligations of Nationstar as issuer under several series of senior notes.
The acquisition is subject to regulatory approvals and other customary closing conditions and is expected to close in the fourth quarter of 2025.
The specific series of Nationstar notes being redeemed include the 5.000% senior notes due 2026, 6.000% senior notes due 2027, and 5.500% senior notes due 2028.
Additionally, Rocket Mortgage will assume the obligations of Nationstar as issuer under the indentures governing the 6.500% senior notes due 2029, 5.125% senior notes due 2030, 5.750% senior notes due 2031, and 7.125% senior notes due 2032. The market has reacted to these announcements by moving the company's shares -3.36% to a price of $19.82. Check out the company's full 8-K submission here.
