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New Residential issues $400M in receivables-backed term notes

New Residential Investment Corp. issued $400 million of receivables-backed term notes through its indirect unit, NRZ Advance Receivables Trust 2015-ON1.

The notes bear fixed interest, varying by class, ranging from 2.5118% to 4.4338% per annum. The revolving period ends Sept. 15, 2022.

Proceeds were used to redeem another series of notes issued by the company.