loanDepot $600 million senior notes offering
We advised the initial purchasers on the high-yield debt offering
3/26/2021

Davis Polk advised the representative of the initial purchasers in connection with a Rule 144A / Regulation S offering by LD Holdings Group LLC of $600 million aggregate principal amount of its 6.125% senior notes due 2028. The proceeds of the offering will be used for general corporate purposes, including to pay down operating indebtedness and to fund a special dividend to its equityholders.

Founded in 2010, loanDepot is a customer-centric and technology-empowered residential mortgage platform. Its operations currently consist of three different verticals: origination of conventional and government mortgage loans; servicing conventional and government mortgage loans; and providing a growing suite of ancillary services. loanDepot ranks as one of the nation’s largest retail mortgage originators and the second-largest nonbank retail mortgage originator overall.

The capital markets team included partners Michael Kaplan and Yasin Keshvargar, counsel Joseph S. Payne and associate Stephen H. Karp. Partner Michael Farber and associate Bradford Sherman provided tax advice. Partner Margaret E. Tahyar and associate Russell Quarles provided financial institutions advice. Associates Yana Kipnis and Shuang Ci provided intellectual property advice. All members of the Davis Polk team are based in the New York office.