Home Loan Servicing Solutions to price public sale of ordinary stock

Deal sells 11.5 million shares with 1,725,000 more shares in greenshoe

By Devika Patel

Knoxville, Tenn., Sept. 5 - Home Loan Servicing Solutions, Ltd. said it will price a public offering of stock with a 30-day greenshoe option.

The company will sell 11.5 million ordinary shares with an additional 1,725,000 ordinary shares allotted for the greenshoe.

Wells Fargo Securities, LLC, Barclays Capital Inc., Bank of America Merrill Lynch, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are the joint bookrunning managers.

Proceeds will be used to purchase the right to receive servicing and other fees, associated servicing advances and other assets from Ocwen Loan Servicing, LLC.

The George Town, Cayman Islands, company was formed to acquire mortgage servicing assets, primarily subprime and Alt-A mortgage servicing rights and associated servicing advances.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.