Rocket Companies Completes $1.5 Billion Notes Offering

Paul, Weiss advised Rocket Companies, a Detroit-based fintech platform consisting of mortgage, real estate and personal finance businesses, on its issuance of $900 million aggregate principal amount of 6.125% senior notes due 2031 and $600 million aggregate principal amount of 6.500% senior notes due 2034. Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan, Morgan Stanley and Wells Fargo Securities acted as joint bookrunning managers for the offering.

The proceeds of the notes will be used to repay, among others, the 2.875% senior notes due 2026 and 5.250% senior notes due 2028 issued by Rocket Mortgage, LLC, an indirect subsidiary of Rocket Companies.

The Paul, Weiss team was led by corporate partners Christodoulos Kaoutzanis and John Kennedy, and included tax partner Robert Killip; and executive compensation counsel Jake Glazeski.