Quicken Loans $1.01 Billion Notes Offering

Davis Polk advised the representative of the initial purchasers in connection with a Rule 144A/Regulation S offering by Quicken Loans Inc. of $1.01 billion aggregate principal amount of its 5.250% senior notes due 2028. Proceeds of the offering will be used to pay a distribution to Quicken Loan’s shareholder and for general corporate purposes.

Founded in 1985 and headquartered in Detroit, Michigan, Quicken Loans is a technology and service-driven residential mortgage lender and servicer, focused on originating agency-conforming and government loans directly to qualified borrowers in all 50 states and selling its loans into the secondary market. Quicken Loans also retains the mortgage servicing rights on the majority of its loan originations and primarily services mortgages for Fannie Mae, Freddie Mac and Ginnie Mae.

The Davis Polk capital markets team included partner Michael Kaplan, counsel Jeffrey S. Ramsay and associate Rahim Manji. The regulatory team included partner Margaret E. Tahyar and associate Hallie T. Damon. Partners Antonio J. Perez-Marques and Avi Gesser and associate Will Schildknecht provided litigation advice. The tax team included partner Lucy W. Farr and associate Alexander J. Hendin. All members of the Davis Polk team are based in the New York office.