Shearman And Sterling

News July 13, 2018

Wand Merger Corporation’s $1.7 Billion Senior Notes Offering

Shearman & Sterling represented Credit Suisse Securities (USA) LLC, Jefferies LLC, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Goldman Sachs & Co. LLC, KKR Capital Markets LLC and Morgan Stanley & Co. LLC, as joint book-running managers, in connection with a Rule 144A/Regulation S offering of $950 million aggregate principal amount of 8.125% senior notes due 2023 and $750 million aggregate principal amount of 9.125% senior notes due 2026 (collectively, the “Notes”) of Wand Merger Corporation (the “Issuer”), a wholly owned subsidiary of WMIH Corp. (WMIH). The Notes are being issued in connection with the acquisition by WMIH of all of the outstanding equity interests of Nationstar Mortgage Holdings Inc. The Issuer has entered into an Agreement and Plan of Merger with WMIH and Nationstar, pursuant to which the Issuer will merge with and into Nationstar, with Nationstar surviving as a wholly owned subsidiary of WMIH.

Nationstar is an integrated servicer, originator and provider of transaction-based services for residential mortgages throughout the United States under its Mr. Cooper® and Champion Mortgage® brands. With experience spanning more than 20 years, Nationstar is one of the largest residential loan servicers in the country.

The Team