PHH Corporation (PHH) Announces Senior Notes Issue

PHH Corporation (NYSE: PHH) a leading outsource provider of mortgage and vehicle fleet management services, announced  the pricing of $220M  in aggregate principal amount of 4.00% Convertible Senior Notes Due 2014,  also granted the initial purchasers of the notes a 25-day over-allotment option to purchase up to $30M additional aggregate principal amount of the notes

PHH expects to close the notes offering on or about September 29, 2009