ANN ARBOR, Mich., Jan. 13, 2021 /PRNewswire/ -- Home Point
Capital Inc. ("Home Point Capital"), the parent entity of
Homepoint, today announced that it has priced its previously
announced private placement (the "Offering") of $550 million aggregate principal amount of its
5.000% Senior Notes due 2026 (the "Notes"), which represents an
increase of $50 million from the
previously announced offering of $500
million. The Offering is expected to close on January 19, 2021, subject to customary closing
conditions.
The Notes will bear interest at a rate of 5.000% per annum
payable semi-annually on February 1
and August 1 of each year, commencing
August 1, 2021. The Notes will mature
on February 1, 2026. The Notes will
be guaranteed by certain of Home Point Capital's wholly owned
domestic restricted subsidiaries, including Homepoint. Home Point
Capital intends to use up to 50% of the net proceeds from the
Offering (but in any event not to exceed $275 million) to fund a distribution to its
owners following the closing of the Offering and the remainder to
repay outstanding amounts under its mortgage servicing rights
financing facility and to pay related fees and expenses.
The Notes and the related guarantees will be offered and sold
only to persons reasonably believed to be qualified institutional
buyers in reliance on Rule 144A under the Securities Act of 1933,
as amended (the "Securities Act") and to certain non-U.S. persons
in transactions outside the United
States in reliance on Regulation S under the Securities Act.
The Notes and related guarantees have not been and will not be
registered under the Securities Act or the securities laws of any
state or other jurisdiction, and may not be offered or sold in
the United States without
registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state securities
or blue sky and foreign securities laws.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Home Point Capital
Home Point Capital is
evolving the homebuying and home ownership experience. Home Point
Capital's primary business entity, Home Point Financial
Corporation, is a leading mortgage originator and servicer focused
on driving financially healthy and successful homeownership.
Through additional wholly owned subsidiaries Home Point Mortgage
Acceptance Corporation and Home Point Asset Management, the company
supports sustainable homeownership as a crucial element of each
consumer's broader journey towards financial security and
well-being, delivering a seamless and less stressful homebuying
experience.
Founded in 2015 and headquartered in Ann Arbor, Michigan, Homepoint works closely
with a nationwide network of more than 5,500 mortgage broker and
correspondent partners with deep knowledge and expertise about the
communities and customers they serve. Today, Homepoint is the
nation's third-largest wholesale mortgage lender and the
10th-largest non-bank mortgage lender.
Home Point Financial Corporation d/b/a Homepoint. NMLS No. 7706
(For licensing information, go to: nmlsconsumeraccess.org). Home
Point Financial Corporation does not conduct business under the
name, "Homepoint" in IL, KY, LA, MD, NY, or WY. In these states,
the company conducts business under the full legal name, Home Point
Financial Corporation. 2211 Old Earhart Road, Suite 250,
Ann Arbor, MI 48105. Toll-Free
Tel: 888-616-6866.
Forward Looking Statements
The statements contained in
this press release that are not historical facts are
forward-looking statements. These forward-looking statements are
based on Home Point Capital's current expectations and are not
guarantees of future performance. The forward-looking statements
are subject to various risks, uncertainties, assumptions or changes
in circumstances that are difficult to predict or quantify. Actual
results may differ materially from these expectations due to
changes in global, regional or local economic, business,
competitive, market, regulatory and other factors, many of which
are beyond Home Point Capital's control. Any forward-looking
statement in this press release speaks only as of the date of this
release. Home Point Capital undertakes no obligation to publicly
update or review any forward-looking statement, whether as a result
of new information, future developments or otherwise, except as may
be required by any applicable securities laws.
Media
Contacts:
Home Point Capital:
Brad
Pettiford
media@hpfc.com
Haven Tower for Home Point
Capital:
homepoint@haventower.com
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SOURCE Home Point Financial Corporation