Mortgage company PHH will offer $350 million in senior notes due 2016
By APFriday, August 6, 2010
PHH to offer $350 million in senior notes
MT. LAUREL, N.J. — Mortgage company PHH Corp. said Friday it will offer $350 million in senior notes.
That is a $100 million increase from Tuesday, when the company said it would offer $250 million in senior notes.
The notes are 9.25 percent senior notes due 2016.
PHH plans to use proceeds to pay down debt. The offering is set to close on Wednesday.
Shares fell 4 cents to $22.08 in afternoon trading.
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