Ocwen Financial, a financial services holding company, said Tuesday it has priced its offering of $225 million in fixed rate asset-backed term notes to be issued by Ocwen Freddie Advance Funding LLC.

The notes will carry a weighted average fixed interest rate of 2.225% per annum. The company intends to use the net proceeds for debt repayments. The offering is expected to close on June 26, subject to customary closing conditions. Shares were 0.9% higher in recent morning trade, below the midpoint of the 52-week range of $5.66 – $38.80.

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