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CrossCountry Mortgage issues $600M in debt to repay MSR line
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CrossCountry Mortgage issues $600M in debt to repay MSR line
CrossCountry Mortgage (CCM) issued $600 million in debt, primarily to repay an outstanding mortgage servicing rights (MSR) line of credit, among other general corporate purposes, the company announced Tuesday.The transaction, handled through its parent company CrossCountry Intermediate HoldCo., priced the notes at 6.75%. The senior notes are due in 2032 and will be guaranteed on an unsecured basis, meaning they are not backed by collateral. “The…
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