Rocket plans to raise $4B to pay off Mr. Cooper debt

Rocket Cos. is offering a combined $4 billion in senior notes to pay some of Mr. Cooper’s ten-figure debt in anticipation of the major acquisition.

The Detroit-based fintech said Tuesday it wants to sell $2 billion of senior notes due 2030 and an additional $2 billion of senior notes due 2033, unconditionally guaranteed by Rocket Mortgage. The notes will also be guaranteed on an unsecured basis by Mr. Cooper and Redfin, pending Rocket’s acquisition of the public companies. 

The megalender said it intends to pay Mr. Cooper’s senior notes due in 2026, 2027 and 2028, according to a press release. Rocket will also have the option to pay the Coppell, Texas-based servicer’s senior notes due from 2029 to 2032.

The bonds won’t be registered with the Securities and Exchange Commission and instead…