Mount Laurel-based mortgage outsourcing company PHH Corp. announced Tuesday it has closed its previously announced offering of $350 million in aggregate principal amount of 6.375 percent senior notes, due 2021.

The company is using the net proceeds of the offering of the notes, together with available cash, to repurchase up to $350 million of outstanding aggregate principal amount of its 9.25 percent senior notes, due 2016, according to the announcement.

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