PennyMac Financial Services, Inc. Announces Intention to Offer $650 Million Senior Notes due 2030

PennyMac Financial Services, Inc. Announces Offering of $650 Million Senior Notes Due 2030

WESTLAKE VILLAGE, Calif., May 20, 2024– PennyMac Financial Services, Inc. (NYSE: PFSI) has revealed its plans to offer $650 million in aggregate principal amount of Senior Notes due 2030. The Notes will be fully guaranteed on an unsecured senior basis by the Company’s existing and future wholly owned domestic subsidiaries, excluding certain subsidiaries. The proceeds from this offering will be utilized to repay borrowings under secured MSR facilities, other secured indebtedness, and for general corporate purposes. The offering, subject to market conditions and other factors, will be made through a private placement to qualified institutional buyers.

PennyMac Financial Services, Inc. is a specialty financial services firm that focuses on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market. With over 3,800 employees nationwide, the company is a recognized leader in the U.S. residential mortgage industry. In the past twelve months, PennyMac Financial produced $98 billion in newly originated loans and serviced loans totaling $617 billion in unpaid principal balance as of March 31, 2024.

The offering of the Notes is not registered under the Securities Act or state securities laws and may not be offered or sold in the United States or to U.S. persons without an applicable exemption. This press release does not constitute an offer to sell or a solicitation of an offer to buy any security.

Forward-looking statements in this press release highlight the Company’s beliefs, estimates, and projections regarding the offering of Notes and the use of proceeds. Actual results may vary from those projected due to factors such as interest rate changes, macroeconomic conditions, changes in real estate market conditions, and regulatory changes.

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Contacts:
Media
Lauren Padilla
[email protected]
805.225.8224

Investors
Kevin Chamberlain
Isaac Garden
[email protected]
818.224.7028