Rocket Companies upsizes note offering to $1.5 billion from $1.2 billion

Rocket Companies Inc. (NYSE: RKT) priced $1.5 billion in senior notes, increasing the offering size from a previously announced $1.2 billion, according to a company statement.

The Detroit-based fintech platform issued $900 million of 6.125% senior notes due 2031 and $600 million of 6.500% senior notes due 2034 in a private offering. The notes will be guaranteed by the company's direct and indirect domestic subsidiaries that currently guarantee existing senior notes.

The offering is expected to close on June 16, 2026, subject to customary conditions.

Rocket Companies plans to use proceeds to repay Rocket Mortgage LLC's 2.875% senior notes due 2026 and 5.250% senior notes due 2028, along with other company debt. The company issued conditional redemption notices for both series of Rocket Mortgage notes, with redemption dates of June 19, 2026 and July 9, 2026, respectively, at 100% of principal plus accrued interest.

The notes are being offered to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S. The securities will not be registered under the Securities Act.

Each redemption is contingent on closing the note offering.

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