Rithm Capital Corp. (NYSE: RITM) announced plans to offer $500 million in senior unsecured notes due 2031, according to a company statement.

The New York-based alternative asset manager intends to use net proceeds for general corporate purposes, which may include repaying certain debt obligations.

The notes will not be registered under the Securities Act of 1933 or state securities laws. The company plans to offer the securities only to qualified institutional buyers under Rule 144A and to investors outside the United States under Regulation S.

Rithm Capital operates as a global alternative asset manager focused on credit and real estate assets. The company's platform includes asset-based finance, residential and commercial real estate lending, mortgage servicing rights, and structured credit through various subsidiaries including Elecor Properties, Newrez, Genesis Capital, Sculptor Capital Management, and Crestline Investors.