CCM Announces Pricing Of Upsized Offering Of $600 Million Of 6.750% Senior Notes Due 2032
CrossCountry Mortgage, LLC (“CCM”), the nation’s largest distributed-retail mortgage lender, announced that its direct parent company, CrossCountry Intermediate HoldCo, LLC (the “Company”), priced its upsized offering of $600 million aggregate principal amount of 6.750% senior notes due 2032 (the “Notes”).
The Notes will be guaranteed on a senior unsecured basis by CCM and any other future wholly owned domestic restricted subsidiary of the Company that guarantees any material corporate indebtedness of the Company or any guarantor of the Notes, subject to certain exceptions. The offering is expected to close on or about November 21, 2025, subject to the satisfaction of customary closing conditions.
The Company expects to use the net proceeds from the offering to repay a portion of the amounts outstanding under CCM’s mortgage servicing rights line of credit, to pay related fees and expenses and for general corporate purposes.
The Notes and related guarantees 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 and the related guarantees have not been and will not be 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.
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