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Pennymac Financial Services Inc (PFSI) is a leading U.S. residential mortgage lender specializing in loan origination and servicing. This news hub provides investors and industry professionals with timely updates on company developments, regulatory compliance, and market trends shaping the mortgage sector.
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PennyMac Mortgage Investment Trust (PMT) announced the pricing of a private placement of $200 million of Exchangeable Senior Notes due 2029 by its subsidiary, PennyMac Corp. The initial purchasers have an option to buy an additional $30 million within 13 days. The Notes, bearing a 8.50% annual interest rate, are to be offered to qualified institutional buyers under Rule 144A of the Securities Act and will be guaranteed by PMT. The exchange rate is set at 63.3332 Common Shares per $1,000 principal, initially priced at $15.79 per share, a 15% premium over the May 21, 2024 closing price. Proceeds will fund business activities, including mortgage servicing rights, GSE credit risk transfer securities, and other mortgage-related securities.
PennyMac Mortgage Investment Trust (NYSE: PMT) announced a private offering of $200 million in Exchangeable Senior Notes due 2029 through its subsidiary, PennyMac Corp (PMC). Initial purchasers have a 13-day option to buy an additional $30 million in Notes.
The Notes are only available to qualified institutional buyers under Rule 144A of the Securities Act of 1933. These Notes will be guaranteed by PMT and can be exchanged for cash, PMT's common shares, or a combination thereof.
Net proceeds will fund PMT's business activities, including acquiring mortgage servicing rights, GSE credit risk transfer securities, and other mortgage-related securities, funding correspondent lending, and repaying existing debt.
PennyMac Financial Services (NYSE: PFSI) has announced the pricing of its private offering of $650 million in 7.125% Senior Notes due 2030. These notes will mature on November 15, 2030, with interest payable semi-annually starting November 15, 2024. The proceeds will be used to repay secured borrowings and for general corporate purposes. The offering is set to close on May 23, 2024, subject to customary conditions. The notes are guaranteed by PennyMac's wholly-owned domestic subsidiaries and were offered privately to institutional buyers and non-U.S. persons under Rule 144A and Regulation S. The notes are not registered under the Securities Act and cannot be sold in the U.S. without an exemption.
PennyMac Financial Services announced a proposed private offering of $650 million in senior notes due 2030. These notes will be guaranteed by its existing and future wholly-owned domestic subsidiaries, excluding certain subsidiaries. The raised funds will be used to repay borrowings under secured MSR facilities, other secured debt, and for general corporate purposes. The offering will be conducted privately to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S of the Securities Act of 1933. The notes will not be registered under the Securities Act or state securities laws and cannot be sold in the U.S. without an exemption.
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