04:35 PM EST, 01/30/2026 (MT Newswires) -- Onity ( ONIT ) said late Friday that its subsidiaries, PHH and PHH Escrow Issuer, closed a $200 million offering of 9.875% senior notes due 2029.

The offering adds to PHH's existing 9.875% senior notes due 2029, bringing the total series to $700 million, secured and guaranteed by Onity ( ONIT ) and select PHH subsidiaries, the company said.

The net proceeds will be used for general corporate purposes, including the repayment of mortgage servicing rights indebtedness, it added.