Home Point Capital to sell $500 million five-year notes on Wednesday; talk low-to-mid 5% area

By Paul A. Harris

Portland, Ore., Jan. 12 – Home Point Capital Inc. plans to price a $500 million offering of five-year senior notes (B2/B) on Wednesday, according to market sources.

Initial guidance has the notes coming to yield in the low-to-mid 5% area.

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, SPC Capital, BofA Securities Inc., Goldman Sachs & Co. LLC, UBS Securities LLC, Barclays, KKR Capital Markets LLC, Morgan Stanley & Co. LLC and Amherst are the joint bookrunners.

The Rule 144A and Regulation S for life notes come with two years of call protection.

The Ann Arbor, Mich.-based mortgage originator and servicer plans to use the proceeds to fund a distribution to its owners and repay debt under its mortgage servicing rights facility.

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