Barclays has arranged a $350 million term loan backing Ocwen Loan Servicing’s acquisition of HomEq Servicing, according to Bloomberg.

Price talk and a launch date have not been determined.

Ocwen Loan Servicing, which is a unit of Ocwen Financial, is purchasing loan servicing company HomEq for approximately $1.3 billion. The transaction is expected to close in the third quarter.

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