August 9, 2010 / 3:56 PM / 7 years ago

New Issue-PHH Corp sells $350 mln in notes

  Aug 9 (Reuters) - PHH Corp (PHH.N) on Friday sold $350 million of senior notes in the 144a private placement market, said a market source.
  The size of the deal was increased from an originally planned $250 million.
  Bank of America Merrill Lynch, Citigroup, JP Morgan, RBS, Barclays, Deutsche Bank and Wells Fargo were the joint bookrunning managers for the sale. BORROWER: PHH CORP AMT $350 MLN     COUPON 9.25 PCT     MATURITY 3/1/2016   TYPE SR NTS      ISS PRICE 100.00    FIRST PAY 3/1/2011  MOODY‘S Ba2      YIELD 9.25 PCT      SETTLEMENT 8/11/2010 S&P BB-PLUS      SPREAD 749 BPS      PAY FREQ SEMI-ANNUAL FITCH BB+         MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS  

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