Finance of America (FOA) is offering an exchange of its 2025 unsecured notes for new secured bonds due 2026 or 2029, improving financial flexibility.
The announcement indicates that over 94% of existing bondholders are either in favor of or have shown intent to participate in the exchange offer, demonstrating strong support.
By extending the maturity of the bonds and prioritizing them for noteholders, FOA seeks to enhance its capital structure, aiming for sustainable growth and profitability.
The exchange offer allows investors to potentially earn a cash fee of 0.25% of their exchanged principal amount, incentivizing bondholders to participate.
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