UWM Holdings Corporation Announces Pricing of $500 Million of 5.750% Senior Notes Due 2027
16 November 2021 - 10:01AM
Business Wire
UWM Holdings Corporation (NYSE:UWMC) (“UWMC”) announced today
that its indirect subsidiary, United Wholesale Mortgage, LLC
(“UWM”), priced its offering of $500 million aggregate principal
amount of 5.750% senior notes due 2027 (the “Notes”). UWM expects
the closing of the Notes to occur on November 22, 2021, subject to
customary closing conditions. The Notes will have an interest rate
of 5.750% and will be issued at a price of 100% of their face
value.
UWM intends to use the net proceeds of the offering for general
corporate purposes and to fund growth.
The Notes were offered only to persons reasonably believed to be
qualified institutional buyers in accordance with Rule 144A under
the Securities Act of 1933, as amended (the “Securities Act”), and
to certain non-U.S. persons in transactions outside the United
States in reliance on Regulation S under the Securities Act. The
Notes have not been registered under the Securities Act, or the
securities laws of any other jurisdiction, and may not be offered
or sold in the United States absent registration or an applicable
exemption from the registration requirements of the Securities Act
and applicable securities laws of any other jurisdiction. This
press release does not and will not constitute an offer to sell any
of the Notes or the solicitation of an offer to buy any of the
Notes, nor shall there be any sale of the Notes in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
About UWM Holdings Corporation and United Wholesale
Mortgage
Headquartered in Pontiac, Michigan, UWM Holdings Corporation is
the publicly traded indirect parent of United Wholesale Mortgage,
LLC (“UWM”). UWM is the largest wholesale mortgage lender in the
United States, originating mortgage loans exclusively through the
wholesale channel. With a culture of continuous innovation of
technology and enhanced client experience, UWM leads its market by
building upon its proprietary and exclusively licensed technology
platforms, superior service and focused partnership with the
independent mortgage broker community. UWM focuses on providing
highly efficient, accurate and expeditious lending support. UWM
originates primarily conforming and government loans across all 50
states and the District of Columbia.
Forward Looking Statements
This press release includes forward-looking statements regarding
the offering of the Notes and the intended use of the net proceeds.
These forward-looking statements may be affected by risks and
uncertainties in UWM’s business and market conditions. UWM wishes
to caution readers that certain important factors may have affected
and could in the future affect UWM’s actual results and could cause
UWM’s actual results for subsequent periods to differ materially
from those expressed in any forward-looking statement made by or on
behalf of UWM, including the risk that the offering of the Notes
cannot be successfully completed. UWM undertakes no obligation to
update forward-looking statements to reflect events or
circumstances after the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20211115006331/en/
For inquiries regarding UWM, please contact: INVESTOR
CONTACT MATT ROSLIN InvestorRelations@uwm.com
MEDIA CONTACT NICOLE YELLAND Media@uwm.com
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