Lender Processing Services Completes Offering of Senior Notes Due 2023

    Lender Processing Services Completes Offering of Senior Notes Due 2023

Announces Receipt of Requisite Consents in Previously Announced Tender Offer
for Senior Notes Due 2016

Calls for Redemption of Senior Notes Due 2016 that Remain Outstanding
Following Completion of Tender Offer

PR Newswire

JACKSONVILLE, Fla., Oct. 12, 2012

JACKSONVILLE, Fla., Oct. 12, 2012 /PRNewswire/ -- Lender Processing Services,
Inc. (NYSE: LPS) (the "Company"), a leading provider of integrated technology
and services to the mortgage and real estate industries, announced today that
it has closed its previously announced offering of $600 million aggregate
principal amount of 5.75% Senior Notes due 2023 (the "Notes"). The net
proceeds of the offering, along with cash on hand, are being used to purchase
any of the 8.125% Senior Notes due 2016 (the "Old Notes") tendered in the
Company's previously announced tender offer and consent solicitation (the
"Tender Offer"), to redeem any notes not tendered in the Tender Offer, to
prepay in full the outstanding Term B Loans under its senior credit facilities
and to pay fees and expenses in connection with these transactions.

(Logo: http://photos.prnewswire.com/prnh/20120802/FL50731LOGO)

As part of the Tender Offer, the Company solicited consents from the holders
of the Old Notes for certain proposed amendments that would eliminate or
modify certain covenants and events of default as well as other provisions
contained in the indenture governing the Old Notes (the "Proposed
Amendments"). Adoption of the Proposed Amendments required consents from
holders of at least a majority in aggregate principal amount outstanding of
the Old Notes. The Company announced today it has received the requisite
consents in the Consent Solicitation to execute a supplemental indenture to
implement the Proposed Amendments pursuant to its Offer to Purchase and
Consent Solicitation Statement, dated September 27, 2012 (the "Offer to
Purchase"), and has entered into a supplemental indenture, dated October 12,
2012, to the indenture governing the Old Notes to implement the Proposed
Amendments.

As of 5:00 p.m., Eastern Time, on October 11, 2012 (the "Consent Payment
Deadline"), $286,090,000 million aggregate principal amount of the outstanding
Old Notes (representing approximately 79.03% of the outstanding Old Notes) had
been tendered. The Company has exercised its option to accept for payment and
settle the Tender Offer with respect to Old Notes that were validly tendered
at or prior to the Consent Payment Deadline (the "Early Settlement"). The
Early Settlement occurred today concurrently with the closing of the offering
of the Notes.

The Tender Offer will expire at midnight, Eastern Time, on October 25, 2012,
unless the Tender Offer is extended or earlier terminated (the "Expiration
Date"). Under the terms of the Tender Offer, holders of Old Notes who validly
tender their Old Notes after the Consent Payment Deadline, but on or before
the Expiration Date, and whose notes are accepted for purchase, will receive
tender offer consideration of $1,014.38 per $1,000.00 in principal amount of
Old Notes validly tendered plus accrued and unpaid interest from and including
the most recent interest payment date, and up to, but excluding, the final
settlement date, which is expected to occur on the first business day
following the Expiration Date. As the Withdrawal Deadline of 5:00 p.m.,
Eastern Time, on October 11, 2012 has passed, previously tendered Old Notes
can no longer be withdrawn and consents may no longer be revoked, other than
in the limited circumstances set forth in the Offer to Purchase.

The Company today also delivered notice that it had called for redemption of
all the Old Notes that remain outstanding following completion of the Tender
Offer at a price equal to 104.063% of their face amount, plus accrued and
unpaid interest to, but not including, the date of redemption. Payment for the
redemption of the remaining Old Notes is expected to be made on November 13,
2012 (with interest accruing on the remaining Old Notes to November 11, 2012).

The tender agent and information agent for the tender offer and consent
solicitation is D.F. King & Co., Inc. The sole dealer manager for the tender
offer and solicitation agent for the consent solicitation is Wells Fargo
Securities, LLC ((866) 309-6316 (toll-free) and (704) 715-8341 (collect)).

The Offer to Purchase and the related Letter of Transmittal (together, the
"Offer Documents") have been distributed to holders of Notes. Holders with
questions or who would like additional copies of the offer documents may call
the information agent, D.F. King & Co., Inc., at (212) 269-5550 (collect, for
banks and brokers) or (800) 829-6551 (toll-free, for all others).

This news release is for informational purposes only and does not constitute
an offer to buy or the solicitation of an offer to sell the Notes. The tender
offer and the consent solicitation are being made only pursuant to the Offer
Documents that the Company has distributed to noteholders. Noteholders and
investors should read carefully the Offer Documents because they contain
important information, including the various terms of and conditions to the
tender offer and the consent solicitation. None of the Company, the dealer
manager and the solicitation agent, the tender agent, the information agent or
their respective affiliates is making any recommendation as to whether or not
holders should tender all or any portion of their Notes in the tender offer or
deliver their consents in the consent solicitation. This news release does not
constitute an offer to sell or a solicitation of an offer to buy any
securities that may be sold pursuant to the proposed debt financing.

About Lender Processing Services

Lender Processing Services (NYSE: LPS) delivers comprehensive technology
solutions and services, as well as powerful data and analytics, to the
nation's top mortgage lenders, servicers and investors. As a proven and
trusted partner with deep client relationships, LPS offers the only end-to-end
suite of solutions that provides major U.S. banks and many federal government
agencies the technology and data needed to support mortgage lending and
servicing operations, meet unique regulatory and compliance requirements and
mitigate risk.

These integrated solutions support origination, servicing, portfolio retention
and default servicing. LPS' servicing solutions include MSP, the industry's
leading loan-servicing platform, which is used to service approximately 50
percent of all U.S. mortgages by dollar volume. The company also provides
proprietary data and analytics for the mortgage, real estate and capital
markets industries. Lender Processing Services is a Fortune 1000 company
headquartered in Jacksonville, Fla., employing approximately 8,000
professionals. For more information, please visit www.lpsvcs.com.

Cautionary Statement About Forward-Looking Statements 

This press release contains forward-looking statements that involve a number
of risks and uncertainties. Those forward-looking statements include all
statements that are not historical facts, including statements about our
beliefs and expectations. Forward-looking statements are based on management's
beliefs, as well as assumptions made by and information currently available to
management. Because such statements are based on expectations as to future
economic performance and are not statements of historical fact, actual results
may differ materially from those projected. We undertake no obligation to
update any forward-looking statements, whether as a result of new information,
future events or otherwise. The risks and uncertainties to which
forward-looking statements are subject include, but are not limited to: our
ability to successfully consummate the Senior Notes Offering, the proposed
tender offer for our existing senior notes due 2016, the related consent
solicitation, the redemption of any untendered existing notes, and the
prepayment of our outstanding Term B Loans under our senior credit facilities;
our ability to adapt our services to changes in technology or the marketplace;
the impact of adverse changes in the level of real estate activity (including
among others, loan originations and foreclosures) on demand for certain of our
services; our ability to maintain and grow our relationships with our
customers; the effects of our substantial leverage on our ability to make
acquisitions and invest in our business; the level of scrutiny being placed on
participants in the foreclosure process; risks associated with federal and
state enforcement proceedings, inquiries and examinations currently underway
or that may be commenced in the future with respect to our default management
operations, and with civil litigation related to these matters; the impact of
continued delays in the foreclosure process on the timing and collectability
of our fees for certain of our services; changes to the laws, rules and
regulations that regulate our businesses as a result of the current economic
and financial environment; changes in general economic, business and political
conditions, including changes in the financial markets; the impact of any
potential defects, development delays, installation difficulties or system
failures on our business and reputation; risks associated with protecting
information security and privacy; and other risks and uncertainties detailed
in the "Statement Regarding Forward-Looking Information," "Risk Factors" and
other sections of the Company's Form 10-K and other filings with the
Securities and Exchange Commission.



SOURCE Lender Processing Services, Inc.

Website: http://www.lpsvcs.com
Contact: Investor contact: Nancy Murphy, +1-904-854-8640,
Nancy.Murphy@lpsvcs.com; or Media contact: Michelle Kersch, +1-904-854-5043,
Michelle.Kersch@lpsvcs.com
 
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