LoanDepot Announces Private Offering of Senior Unsecured Notes
FOOTHILL RANCH, California, March 23, 2021 / PRNewswire / – LoanDepot, Inc. (NYSE: “LDI”) announced today that its wholly owned subsidiary, LD Holdings Group LLC (the “Company”) intends, subject to market conditions and other usual conditions, to offer $ 500 million principal amount of the Senior Unsecured Notes (the âNotesâ) under a private placement (the âOfferâ). The Notes will be initially guaranteed by Artemis Management LLC, LoanDepot.com, LLC, LD Settlement Services, LLC and mello Holdings, LLC, each of which is a restricted wholly owned subsidiary of the Company.
The Company intends to use the net proceeds of this offering for general corporate purposes, including to repay certain operating debts, and to fund a special dividend to shareholders of the Company through a distribution to holders of LoanDepot, Inc. D Common Shares and Holdco Unitholders of the Company.
The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the âSecurities Actâ), securities laws of any state or securities laws of any country. other jurisdiction, and may not be offered or sold in United States, or for the benefit of U.S. nationals, except under an applicable exemption or in connection with a transaction not subject to the registration requirements of the Securities Act and applicable state securities or blue sky laws . Accordingly, the Securities and related collateral are only offered to persons reasonably considered to be “qualified institutional buyers”, as that term is defined by Rule 144A of the Securities Act, or to “non-US persons” in outside United States in accordance with Regulation S under the Securities Act.
A confidential offering memorandum (the âoffering memorandumâ) for the offering of the Notes is made available to such eligible persons. The Offer is being made in accordance with the terms and subject to the conditions set out in this Offer Memorandum.
This press release does not constitute an offer to sell or buy, nor a solicitation of an offer to sell or buy, tickets or any other security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such offer, solicitation or sale would be illegal.
Caution regarding forward-looking information
This press release contains “forward-looking statements”, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company and its subsidiaries (collectively, âloanDepotâ) current opinions regarding, among other things, its operations and financial performance. You can identify these statements by using words such as “prospect”, “possible”, “continue”, “could”, “seek”, “about”, “predict”, “believe”, “‘expect”, “plan” , “” intend “,” estimate “or” anticipate “and similar expressions or negative versions of these words or comparable words, as well as future or conditional verbs such as” will “,” should “,” would be âandâ could. âThese forward-looking statements reflect LoanDepot’s views regarding future events as of the date they were made and are based on current expectations, estimates, forecasts, projections, assumptions, beliefs and information of management of LoanDepot. While management believes that the expectations reflected in these forward-looking statements are reasonable, it cannot assure that such expectations will prove to be correct. All such forward-looking statements are subject to risks and risks. uncertainties, many of which are beyond LoanDepot’s control, and could lead to future events or results materially different from those stated or implied in this document. It is not possible to predict or identify all of these risks. These risks include, without limitation, the risk factors described in the section entitled âRisk Factorsâ in our filings with the Securities and Exchange Commission. These factors should not be construed as exhaustive and should be read in conjunction with the other caveats that are included in this and other filings. LoanDepot expressly disclaims any obligation to publicly update or revise forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.
LoanDepot is a contemporary financial services company dedicated to providing a best-in-class experience for its clients buying and refinancing mortgages. Founded in 2010, LoanDepot offers a diverse network of direct trade channels to consumers, marketplace and partners, uniquely positioning it to serve a wide range of customers. Based at Southern california, the Company has funded more than 300 billion dollars since its founding and currently ranks as the second largest non-bank retail lender and one of the largest retail mortgage lenders in United States. Committed to serving the communities in which its team members live and work, LoanDepot has donated millions of dollars to support a variety of local, regional and national philanthropic efforts, most recently donating more than $ 2.5 million to help COVID-related efforts for first responders, healthcare workers, individuals and families nationwide. The company is also a founding sponsor of War Heroes on Water, which supports ongoing therapeutic healing services for wounded veterans across the country.
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Loan SOURCEDepot, Inc.