UWM Holdings Corporation announced the commencement of a private offering of $600 million aggregate principal amount of senior notes due 2031.
The offering is intended to repay the 5.5% Senior Notes due 2025 at maturity.
The Notes will be guaranteed by UWM Holdings' subsidiary, United Wholesale Mortgage, LLC, and offered to qualified institutional buyers and certain non-U.S. persons.
Offering Details
$600 million aggregate principal amount of senior notes due 2031 are being offered to qualified institutional buyers.
Net Proceeds Usage
Proceeds will be used to repay the 5.5% Senior Notes due 2025 and for other corporate purposes.
Regulatory Compliance
Notes will be offered in compliance with Rule 144A under the Securities Act and Regulation S outside the United States.
- The offering of senior notes demonstrates UWM Holdings Corporation's strategic financial planning and commitment to managing debt obligations effectively.
- Repaying the existing 5.5% Senior Notes due 2025 will improve the company's debt maturity profile and strengthen its financial position.
UWM Holdings Corporation's announcement of the offering reflects its proactive approach to enhancing its capital structure and optimizing its debt management strategies.