Key Developments: PHH Corp (PHH.N)

PHH.N on New York Stock Exchange

22.94USD
17 Oct 2014
Price Change (% chg)

$0.53 (+2.37%)
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$22.41
Open
$22.59
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$23.09
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$22.40
Volume
148,494
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113,636
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$27.13
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$21.00

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Latest Key Developments (Source: Significant Developments)

PHH Corp completes divestiture of fleet management services business
Monday, 7 Jul 2014 04:02pm EDT 

PHH Corp:Says effective July 01, 2014, it has completed previously announced sale of its Fleet Management Services business, doing business as PHH Arval, to Element Financial Corporation for cash consideration of $1.4 bln.  Full Article

PHH Corporation announces definitive agreement to sell Fleet Management Services Business
Monday, 2 Jun 2014 05:17pm EDT 

PHH Corporation:Enters into definitive agreement to sell its Fleet Management Services business, doing business as PHH Arval, to Element Financial Corporation for about 1.40 bln in cash.J.P. Morgan and Centerview Partners advised PHH Corporation on this transaction and legal representation was provided by Kirkland & Ellis, Skadden, Arps, Slate, Meagher & Flom and DLA Piper.  Full Article

PHH Corp Announces Pricing of Senior Notes
Tuesday, 6 Aug 2013 04:42pm EDT 

PHH Corp announced that the pricing of $350 million ($50 million more than previously announced) in aggregate principal amount of 6.375% Senior Notes due 2021 at an issue price of 100.000%, plus accrued interest from August 20, 2013. Initially, the notes will not be guaranteed by any of PHH`s subsidiaries. PHH expects to close the notes offering on or about August 20, 2013, subject to the satisfaction of customary closing conditions. J.P. Morgan Securities LLC, RBS Securities Inc., BofA Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. BNY Mellon Capital Markets, LLC, CIBC World Markets Corp., Goldman, Sachs & Co. and Scotia Capital (USA) Inc. are acting as co-managers. PHH intends to use the net proceeds of the offering, along with cash on hand, to repurchase up to $350 million aggregate principal amount of its 9ΒΌ% Senior Notes due 2016 by means of its previously announced tender offer and to pay related fees and expenses. As of June 30, 2013, there was $450 million aggregate principal amount of 2016 notes outstanding. Any proceeds in excess of the amounts needed to fund the Tender Offer will be used for general corporate purposes.  Full Article

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Vikings' Peterson may have December trial on abuse charge

HOUSTON - Suspended Minnesota Vikings star Adrian Peterson could stand trial in December in a Texas court on a felony charge that he injured his son while disciplining him with a thin tree branch, a judge said on Wednesday.

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