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     117  0 Kommentare loanDepot Commences Exchange Offer and Consent Solicitation for 6.500% Senior Notes due 2025

    loanDepot, Inc. (NYSE: LDI) (“loanDepot”) announced today that its subsidiary, LD Holdings Group LLC (the “Issuer”), has commenced an offer (the “Exchange Offer”) to certain Eligible Holders (as defined below) to exchange any and all of its outstanding 6.500% Senior Notes due 2025 (the “Old Notes”) for newly issued 8.250% Senior Secured Notes due 2027 (the “New Notes”), and a related consent solicitation upon the terms and conditions set forth in the confidential Offering Memorandum and Consent Solicitation Statement dated May 20, 2024 (the “Offering Memorandum and Consent Solicitation Statement”).

    The following table below summarizes the principal economic terms of the Exchange Offer:

     

     

     

     

    Exchange Consideration per $1,000 Principal Amount of
    Old Notes Tendered

     

     

     

    Principal Amount of

     

    Total Consideration for Old
    Notes Tendered at or Prior
    to the Early Tender Time

     

    Tender Consideration for
    Old Notes Tendered After
    the Early Tender Time

    CUSIP Numbers

     

     

    2025 Notes
    Outstanding

     

    New Notes
    (principal amount)

     

    Cash

     

    New Notes
    (principal amount)

     

    Cash

    521088AA2 (144A)

    U5140UAA8 (Reg S)

     

    $497,750,000

     

    $850

     

    $250

     

    $850

     

    $200

    Eligible Holders that validly tender and do not validly withdraw their Old Notes in the Exchange Offer at or prior to 5:00 p.m., New York City time, on June 3, 2024, unless extended (such date and time, as they may be extended, the “Early Tender Time”), will be eligible to receive $850 principal amount of New Notes and $250 in cash for each $1,000 principal amount of Old Notes tendered (the “Total Consideration”). Such amount includes an “Early Tender Premium” of $50 in cash per $1,000 principal amount of Old Notes tendered. Eligible Holders tendering Old Notes after the Early Tender Time and at or prior to 5:00 p.m., New York City time, on June 18, 2024, unless extended (such date and time, as may be extended, the “Expiration Time”), will only be eligible to receive $850 principal amount of New Notes and $200 in cash for each $1,000 principal amount of Old Notes tendered (the “Tender Consideration”).

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    loanDepot Commences Exchange Offer and Consent Solicitation for 6.500% Senior Notes due 2025 loanDepot, Inc. (NYSE: LDI) (“loanDepot”) announced today that its subsidiary, LD Holdings Group LLC (the “Issuer”), has commenced an offer (the “Exchange Offer”) to certain Eligible Holders (as defined below) to exchange any and all of its …