PennyMac Financial plans $650 million private senior notes offering

PennyMac Financial Services Inc. (NYSE: PFSI) announced it intends to offer $650 million in senior notes due 2034 through a private placement to qualified institutional buyers.

The notes will be guaranteed by the company's existing and future wholly owned domestic subsidiaries, excluding certain subsidiaries. PennyMac Financial plans to use proceeds to repay borrowings under secured mortgage servicing rights facilities, other secured debt, and for general corporate purposes.

The offering will be conducted pursuant to Rule 144A under the Securities Act of 1933 for qualified institutional buyers and to certain non-U.S. persons under Regulation S. The notes have not been registered under the Securities Act and may not be offered or sold in the United States without an applicable exemption from registration requirements.

The offering remains subject to market conditions and other factors, according to the company's statement.

PennyMac Financial is a specialty financial services firm focused on U.S. mortgage loan production and servicing. For the twelve months ended June 30, 2025, the company originated $134 billion in unpaid principal balance of new loans. As of June 30, 2025, PennyMac Financial serviced loans totaling $700 billion in unpaid principal balance.

The company employs approximately 4,400 people and was founded in 2008.

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