Quicken Loans Inc. $1.25 Billion 5.750% Senior Notes Offering

Davis Polk advised the initial purchasers in connection with a Rule 144A/Regulation S offering by Quicken Loans Inc. (“Quicken Loans”) of $1.25 billion aggregate principal amount of its 5.750% senior notes due 2025. 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, 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 Marcel Fausten and associate Pedro J. Bermeo. The regulatory team included partner Margaret E. Tahyar and associates Jennifer E. Kerslake and Colleen Hobson. Partner Antonio J. Perez-Marques provided litigation advice. Partner Lucy W. Farr provided tax advice. All members of the Davis Polk team are based in the New York office.