General World News

PennyMac announces proposed private offering of $650M in senior notes

California-based multichannel lender and servicer PennyMac Financial Services announced on Monday a proposed private offering of a $650 million aggregate principal amount of senior notes that the company says it will pay back with interest by 2030.

The notes will “be fully and unconditionally guaranteed on an unsecured senior basis” by the company’s existing businesses, except for certain specific outliers it does not specify.

The proceeds will go to repay borrowings the company has made toward its secured mortgage servicing rights (MSRs) facilities, other unspecified debts details ⇒

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