SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934
Date of report: January 22, 2013
HOME LOAN SERVICING SOLUTIONS, LTD.
(Exact name of registrant as specified in its charter)
Home Loan Servicing Solutions, Ltd.
c/o Intertrust Corporate Services (Cayman) Limited
190 Elgin Avenue
George Town, Grand Cayman
(Address of principal executive office)
Registrants telephone number, including area code: (345) 943-3100
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 2.03 Creation of a Direct Financial Obligation.
On January 22, 2012, HLSS Servicer Advance Receivables Trust (the Issuer) issued $1.15 billion in asset-backed term notes. Below is a brief description of their maximum principal amount, interest rate and maturity of the notes by class:
The Issuers notes are secured by servicing advance receivables and are being issued under the second amended and restated base indenture entered into on September 13, 2012 and the Series 2013- T1 indenture supplement, which is applicable to these notes only. See The BusinessDescription of Servicing Advance Facility Agreements and the Advance Financing Facility in our Prospectus dated December 18, 2012 for a more detailed description of the Issuer and the agreements governing the issuance of its notes.
The proceeds from this issuance of notes are being used to partially pay down previously-issued series of the Issuers variable funding notes. The aggregate outstanding commitments available on the variable funding notes is $1 billion, down from $2 billion prior to the issuance of the asset-backed notes, with a weighted average interest rate of one-month LIBOR plus 1.95%, down from one-month LIBOR plus 2.32% prior to the issuance of the asset-backed notes.
Item 9.01. Financial Statements and Exhibits.
(a)(c) Not applicable.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Date: January 22, 2013