General World News

Pennymac to issue $650M in unsecured debt

Pennymac Financial Services is the latest mortgage company to issue debt in a challenging housing market. The California-based company announced on Wednesday it intends to offer a $650 million aggregate principal amount of senior notes due in 2029. 

“Proceeds from the offering will be used to repay a portion of the Company’s secured term notes due 2025 and for other general corporate purposes,” Pennymac said in an 8-K filing with the Securities and Exchange Commission (SEC). 

Analysts see mortgage companies issuing debt as a sign that market conditions may improve in 2024. Lenders are raising details ⇒

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