August 9, 2012 / 9:40 PM / 5 years ago

New Issue-PHH Corp sells $275 mln notes

Aug 9 (Reuters) - PHH Corporation on Thursday sold
$275 million of senior notes, said IFR, a Thomson Reuters
service. 
    The size of the deal was increased from an originally
planned $250 million.
    Bank of America Merrill Lynch, JP Morgan, Barclays Capital,
Citigroup, RBC, RBS, and Wells Fargo were the joint bookrunning
managers for the sale.

BORROWER: PHH CORPORATION 

AMT $275 MLN    COUPON 7.375 PCT   MATURITY    09/01/2019
TYPE SR NTS     ISS PRICE 100      FIRST PAY   03/01/2013
MOODY'S Ba2     YIELD 7.375 PCT    SETTLEMENT  08/23/2012   
S&P BB-MINUS    SPREAD 624 BPS     PAY FREQ    SEMI-ANNUAL
FITCH N/A       MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS

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