PennyMac prices $650 million senior notes offering due 2034

PennyMac Financial Services Inc. (NYSE: PFSI) announced the pricing of its private offering of $650 million aggregate principal amount of senior notes due 2034. The notes will carry a 6.750% interest rate and mature on February 15, 2034.

Interest payments will occur semi-annually on February 15 and August 15 each year, beginning February 15, 2026. The notes will be guaranteed on an unsecured senior basis by the company's existing and future wholly owned domestic subsidiaries, excluding certain subsidiaries.

The company plans to use proceeds from the offering to repay borrowings under its secured mortgage servicing rights facilities and other secured debt, along with general corporate purposes. The offering is scheduled to close on August 12, 2025, subject to customary closing conditions.

The offering was conducted through a private placement to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to certain non-U.S. persons under Regulation S. The notes have not been registered under the Securities Act or state securities laws.

PennyMac Financial Services 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 serviced loans totaling $700 billion in unpaid principal balance.

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