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Legal News

Cahill Represents Arrangers and Dealer Managers in Credit Facility and Exchange Offer for Ocwen

Date: 12/05/16

Cahill represented Barclays Bank as administrative agent and lead arranger, and JPMorgan Chase Bank, Nomura Securities International, and Credit Suisse Securities as arrangers in connection with a $335,000,000 senior secured term loan facility for Ocwen Financial Corporation, a financial services holding company which, through its subsidiaries, originates and services loans. Proceeds from the loan were used refinance existing indebtedness.

Cahill also represented J.P. Morgan Securities and the other dealer managers in connection with an exchange offer by Ocwen Loan Servicing, a subsidiary of Ocwen Financial Corporation, to exchange all outstanding 6.625% Senior Notes due 2019 of Ocwen Financial Corporation for up to $350,000,000 aggregate principal amount of newly issued 8.375% senior secured second lien notes due 2022 of Ocwen Loan Servicing.