Mortgage technology provider Lender Processing Services (LPS) plans to offer $600 million in aggregate principal senior notes due 2023.
The Jacksonville, Fla.-based firm announced the offering late Thursday, saying proceeds will be used to purchase existing 8.125% senior notes due in 2016.
In the second quarter, LPS posted a loss of $37.9 million, or 45 cents a share, after taking a hit on its legal and regulatory reserves and finalizing a settlement with the Missouri Attorney General over the dismissal of charges related to DocX. A year earlier, the firm had a profit of $21.4 million, or 25 cents a share.
