|Bid||19.02 x 1000|
|Ask||19.77 x 800|
|Day's Range||19.44 - 19.53|
|52 Week Range||16.03 - 39.85|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||1.22|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||23.32|
loanDepot, Inc. (NYSE: "LDI"), the nation's second largest nonbank retail lender, today announced it has secured the exclusive naming rights for loanDepot park, the home of the Miami Marlins and world-class special events. loanDepot, the Official Mortgage Provider of Major League Baseball and the Presenting Sponsor of the MLB American and National League Championship Series, will also be the Official Mortgage Provider of the Miami Marlins. This multi-year relationship – the first of its kind for loanDepot and the venue – brings together two rising and celebrated organizations with a common vision for providing exceptional, impactful experiences for customers and fans.
loanDepot, Inc. (NYSE: "LDI") announced today that its wholly-owned subsidiary, LD Holdings Group LLC (the "Company"), has upsized and priced an offering (the "Offering") of $600 million in aggregate principal amount of 6.125% senior unsecured notes due 2028 (the "Notes"). The principal amount of the Offering was increased from the previously announced offering size of $500 million. The notes were priced at par, will be senior unsecured obligations of the Company and will be initially guaranteed on a senior basis by Artemis Management LLC, loanDepot.com, LLC, LD Settlement Services, LLC and mello Holdings, LLC, each a wholly-owned restricted subsidiary of the Company. The Company expects that the closing of the Offering will occur on March 26, 2021, subject to the satisfaction of customary closing conditions.
(Bloomberg) -- LoanDepot Inc. logged its best year ever in 2020, as record-low rates turned mortgage lending into one of the few bright spots of the pandemic economy. Billionaire founder Anthony Hsieh and his private-equity partners are ready to cash in.The 11-year-old company, which went public earlier this year, sold new junk-rated bonds on Tuesday to refinance debt and to pay its shareholders a $200 million special dividend, according to a copy of the debt documents reviewed by Bloomberg.The deal adds Taiwanese-born Hsieh and private equity firm Parthenon Capital, which also owns a stake in the company, to a growing list of beneficiaries of a housing boom fueled by the Federal Reserve’s decision to slash rates to near zero in response to the pandemic.LoanDepot is profiting twice from the ultra-low rates. Like other mortgage lenders, it has enjoyed an increase in lending as Americans sought to move away from cities or to refinance their mortgages at cheaper rates. It is also taking advantage of a rally in credit markets that slashed borrowing costs for companies that are rated below investment grade.“They had a fantastic year,” said Bill Zox, a portfolio manager at Diamond Hill Capital Management, who said the company can afford to take on more debt given its strong performance. “They are growing very rapidly and they have one of the best direct-to-consumer franchises in the whole business.”LoanDepot more than doubled its loan originations in 2020 to over $100 billion. Its revenue grew by over 200% to $4.3 billion over the same period, according to the debt documents.The company priced the new seven-year bonds at a yield of 6.125%, according to people with knowledge of the offering. It raised a total of $600 million from the bond sale, or $100 million more than originally expected. It will use the rest of the proceeds to refinance existing debt and for general corporate purposes, according to a statement.A representative for LoanDepot declined to comment beyond the statement, while Parthenon Capital did not respond to a request for comment. A spokeswoman for Credit Suisse Group AG, the lead arranger on the bond sale, also declined to comment.Read more: Michigan State Walk-On Becomes Billionaire by Making MortgagesHsieh is the latest housing market entrepreneur to experience a boost in fortunes during the pandemic. Mat Ishbia, the chief executive officer of United Wholesale Mortgage, became a billionaire last year after the lending firm founded by his father went public. Rocket Cos. chief executive Dan Gilbert also saw his wealth soar after his company went public at a valuation of around $40 billion in August.(Updates with final size and pricing in seventh paragraph. A previous version of the story corrected the spelling of the company name in the last paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.