Mr Cooper Group Inc (COOP)

[Split T]

Thanks Royal Dude for such an interesting post.


DD for COOP realignment

We understand that Citigroup Inc., a Delaware corporation (the “Company”), proposes to issue and sell US$3,500,000,000 aggregate principal amount of its 2.572% Fixed Rate / Floating Rate Callable Senior Notes Due 2031 (the “Securities”). Subject to the terms and conditions set forth herein or incorporated by reference herein, we, the entities listed on Annex A hereto, as underwriters (the “Underwriters”), offer to purchase, severally and not jointly, the principal amount of the Securities set forth opposite our respective names on the list attached as Annex A hereto at 99.575% of the principal amount thereof, plus accrued interest, if any, from the date of issuance. The Closing Date shall be June 3, 2020, at 9:30 a.m. (Eastern Time). The closing shall take place at the offices of Cleary Gottlieb Steen & Hamilton LLP located at One Liberty Plaza, New York, New York 10006.

https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14197662&RcvdDate=6/3/2020&CoName=CITIGROUP%20INC&FormType=8-K&View=html

The Closing Date shall be June 3, 2020, at 9:30 a.m. (Eastern Time). The closing shall take place at the offices of Cleary Gottlieb Steen & Hamilton LLP located at One Liberty Plaza, New York, New York 10006.

Item 2.01. Completion of Acquisition or Disposition of Assets.
On June 2, 2020, American International Group, Inc. (“AIG”) completed the sale of a majority of the interests in Fortitude Group Holdings, LLC (“Fortitude Holdings”) to Carlyle FRL, L.P. (“Carlyle FRL”), an investment fund advised by an affiliate of The Carlyle Group Inc. (“Carlyle”), and T&D United Capital Co., Ltd. (“T&D”), a subsidiary of T&D Holdings, Inc., under the terms of a membership interest purchase agreement (the “Membership Interest Purchase Agreement”) entered into on November 25, 2019 by and among AIG, Fortitude Holdings, Carlyle FRL, Carlyle, T&D and T&D Holdings, Inc. (the “Majority Interest Fortitude Sale”). AIG established Fortitude Reinsurance Company Ltd. (“Fortitude Re”), a wholly owned subsidiary of Fortitude Holdings, in 2018 in connection with a series of affiliated reinsurance transactions related to AIG’s Legacy Portfolio. As of March 31, 2020, these reinsurance transactions included the cession of approximately $30 billion of reserves from AIG’s Legacy Life and Retirement Run-Off Lines and approximately $4 billion of reserves from AIG’s Legacy General Insurance Run-Off Lines, related to business written by multiple wholly-owned AIG subsidiaries. As of closing of the Majority Interest Fortitude Sale, these reinsurance transactions are no longer considered affiliated transactions and Fortitude Re is the reinsurer of the majority of AIG’s Legacy Portfolio. As these reinsurance transactions are structured as modified coinsurance and loss portfolio transfers with funds withheld, following the closing of the Majority Interest Fortitude Sale, AIG will continue to reflect the invested assets, which consist mostly of available for sale securities, supporting Fortitude Re’s obligations, in AIG’s financial statements.
https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14196545&RcvdDate=6/3/2020&CoName=AMERICAN%20INTERNATIONAL%20GROUP%20INC&FormType=8-K&View=html

"As of March 31, 2020, these reinsurance transactions included the cession of approximately $30 billion of reserves from AIG’s Legacy Life and Retirement Run-Off Lines and approximately $4 billion of reserves from AIG’s Legacy General Insurance Run-Off Lines, related to business written by multiple wholly-owned AIG subsidiaries. As of closing of the Majority Interest Fortitude Sale, these reinsurance transactions are no longer considered affiliated transactions and Fortitude Re is the reinsurer of the majority of AIG’s Legacy Portfolio."

The underwriters expect to deliver the Notes to purchasers on or about June 5, 2020, which will be the third business day following the date of pricing of the Notes (such settlement cycle being herein referred to as “T + 3”).

https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14198216&RcvdDate=6/3/2020&CoName=TRUIST%20FINANCIAL%20CORP&FormType=424B3&View=html


Term
Five-Year Fixed Rate Notes
Ten-Year Fixed Rate Notes


DMD
IMO...my conclusions as of May 31, 2020 @ 0717 CST:

1) The prospectuses of WMI subsidiary created MBS Trusts explicitly states that it would not document any transfers of title of the secure.

Just my guess so take it as you will but I believe this to be the legal document that Gives us a timeline negotiated to show us the way forward.

May 31st- The beginning of the funding of our distribution

June 10th- End of the funding for our first distribution >10 Bil

June 30th- 1 st Payment on or after

EOY Humpty Dumpty comes back together again 2021

After June 30th Continuing funding to COOP and realignment of affiliated group of Banks. To be executed when Humpty Dumpty officially gets put together again by the end of 2020.

UNITED STATES BANKRUPTCY COURT DISTRICT OF DELAWARE ---------------------------------------------------------------x : In re : Chapter 11 : WASHINGTON MUTUAL, INC., et al., : Case No. 08-12229 (MFW) : Debtors. : (Jointly Administered) : : ---------------------------------------------------------------x NOTICE OF UNCLAIMED OR NON-NEGOTIATED DISTRIBUTIONS PLEASE TAKE NOTICE that, by order, dated December 20, 2019, the United States Bankruptcy Court for the District of Delaware authorized and approved, among other things, (a) the closing of the chapter 11 cases of Washington Mutual Inc. and WMI Investment Corp. (collectively, the “Debtors”) and (b) noticing procedures with respect to unclaimed or non- negotiated distributions made pursuant to the Debtors’ Seventh Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code (the “Plan”). PLEASE TAKE FURTHER NOTICE that, on January 10, 2020, WMI Liquidating Trust (“WMILT”) made its final distribution of remaining assets and escrowed equity interests pursuant to the Plan. A list of recipients that have either (a) had any such distributions returned to WMILT due to incorrect initial or forwarding address information or (b) received such distributions but, as of the date hereof, have not negotiated the check distributed, is set forth on WMILT’s website, www.wmitrust.com.
Any recipients’ listed thereon that have had distributions returned to WMILT shall have until May 31, 2020, to notify WMILT of such recipients’ whereabouts and receive such distribution. PLEASE TAKE FURTHER NOTICE that all distributions shall expire on June 30, 2020 and the failure by a listed recipient to negotiate any distribution by June 10, 2020 shall be a ban to any recovery on account of any claim against the Debtors and the Debtors’ chapter 11 estates and the distribution otherwise allocated to such Creditor should be forever forfeited. For further information concerning the final distribution or this notice, please contact the Washington Mutual Restructuring Hotline at [phone]. Dated: April 15, 2020

Welcome to the Restructuring Case for WMI Liquidating Trust