Mr Cooper Group Inc (COOP)

[wamugold]

Does anyone know possible reasons why this is happening?

KFN has bought back all of their 8.3% senior notes on November 2016.
http://ir.kkr.com/kfn_ir/secfiling.cfm?filingID=876661-16-1399&CIK=1386926

They have also bought back all of their 7.5% senior notes on April 2017.
http://ir.kkr.com/kfn_ir/secfiling.cfm?filingID=876661-17-219&CIK=1386926

And consequently terminated all of these senior notes.
http://ir.kkr.com/kfn_ir/secfiling.cfm?filingID=1140361-16-88081&CIK=1386926

Interest rates are predicted to increase about 0.6% by the end of this year so what is the incentive for KKR to buy all these securities back at premium prices with a maturity date of 2041 and 2042. I mean the earlier they retire these notes the higher the premium they have to pay to their note holders. Why take the loss? and does not seem that they need the capital.

Is it possible they are doing this to get majority votes for a possible merger with WMIH? or is it wishful thinking.

It seems now they have 15M outstanding shares x $26 = 390M market cap which seems low but not sure if that is true because last reported book value on KFN 8K was 9.8B that would be too high to consider as a merger.

http://ir.kkr.com/kfn_ir/secfiling.cfm?filingID=1404912-17-2&CIK=1386926