Eager for further expansion, RAC Financial Group is planning a $100 million private placement of notes.

The company, a big home equity lender, will use the proceeds to build business and refinance debt, a spokesman said. The offering, which includes an extra $15 million to cover overallotments, will be convertible into common stock.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.