- Ocwen Financial (NYSE:OCN +1%) announces the tender of nearly all of its 6.625% Senior Notes due in 2019; to be exchanged for Senior Secured Second Lien Notes due in 2022 at 8.375%.
- Altisource Portfolio Solutions (ASPS +1.6%) investors are pressing that company to consider a similar extension as that would give the management team the "runway" to execute on its strategic initiatives.
- Further, some are urging Altisource to fry the shorts by issuing up to $100M in convertible preferred debt and using the proceeds to tender for common stock. Considering the limited float and average volume in the area of 400K shares per day, it could set off quite the squeeze.