04:55 AM EDT, 05/21/2024 (MT Newswires) -- loanDepot (LDI) said late Monday it has launched an offer to certain eligible holders to exchange its outstanding 6.5% senior notes due 2025 for newly issued notes due 2027.

The new notes will pay interest at a rate of 8.25% and mature on Nov. 1, 2027.

The company said the old notes could be withdrawn by June 3 and settlement is expected around June 24.

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