Rithm Capital prices $775 million senior notes offering
RITM
+0.51%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
NEW YORK – Rithm Capital Corp. (NYSE: RITM), a global asset manager focused on real estate, credit, and financial services, has priced a $775 million offering of senior unsecured notes with an 8.000% yield, due in 2029.
The company announced its intention to allocate a portion of the net proceeds towards reducing its existing debt, specifically targeting a buyback of up to $275 million of its 6.250% senior unsecured notes due in 2025. The remaining funds are earmarked for general corporate purposes.
The closing of the offering, subject to customary conditions, is anticipated for March 19, 2024. These notes will not be registered under the U.S. Securities Act of 1933 or any state securities laws and are not to be offered or sold in the United States without registration or an exemption. The offering is directed to qualified institutional buyers in the U.S. under Rule 144A and to non-U.S. persons outside the United States under Regulation S.
Rithm Capital, since its inception in 2013, has generated approximately $5.0 billion in dividends for shareholders and operates with the structure of a real estate investment trust for federal income tax purposes. The company’s portfolio includes Sculptor Capital Management (NYSE:SCU), Inc., Newrez LLC, and Genesis Capital LLC, which are among its wholly-owned subsidiaries in the mortgage origination and servicing platforms.
