WEST PALM BEACH, Fla., Feb. 24, 2021 (GLOBE NEWSWIRE) Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that its subsidiary PHH Mortgage Corporation (“PMC”) plans to offer, subject to market and other conditions, $400 million aggregate principal amount of Senior Secured Notes due 2026 (the “Notes”). The Notes will be guaranteed on a senior secured basis by the Company and PHH Corporation (“PHH”), the parent company of PMC and subsidiary of the Company. The net proceeds from the offering will be used, together with the net proceeds from the Company’s previously announced private placement of $199.5 million aggregate principal amount of senior secured second lien notes to funds managed by Oaktree Capital Management, L.P., to repay in full $498 million of indebtedness of Ocwen, including PMC’s Senior Secured Term Loan,
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CHICAGO, Feb. 24, 2021 /PRNewswire/
Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, today reported results for the fourth quarter and full-year ended December 31, 2020.
Q4 2020 Highlights:
Continued successfully executing upon our dual mandate pandemic response plan to safeguard the health and safety of our employees and to improve the liquidity and recovery capacity of the Company.
Redeemed $50 million in outstanding Senior Secured Notes due 2028 and ended the year with net debt of $679 million, a decrease of $244 million compared to 2019 enabled by strong cash flow generation from operations of $278 million.
Fourth quarter revenues increased by 2.6% sequentially driven by the robust metals pricing environment and recovering demand fundamentals. Gross margin contracted quarter-over-quarter to 18.0% due to lagging contract business price resets, whereas gross margin, excluding LIFO expanded
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Atento Successfully Completes Its Debt Refinancing
- New $500M 5NC3 SSN matures in February 2026, extending average debt life to 4.5 years
- Net proceeds used to fully redeem the 2022 notes
- Company to remain focused on improving capital structure to unlock value to shareholders
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NEW YORK, Feb. 23, 2021 /PRNewswire/ Atento S.A. (NYSE: ATTO) ( Atento or the Company ), the largest provider of customer relationship management and business-process outsourcing services in Latin America, and among the top five providers globally based on revenue, today announced that its wholly owned subsidiary, Atento Luxco 1 (the Issuer ), has completed the refinancing of its remaining 6.125% Senior Secured Notes due 2022 (the Existing Notes ). As previously announced, the Issuer has closed a private offering of senior secured notes in an aggregate principal amount of $500 million due 2026 (the Notes ). The net proceeds from the offerin
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