PennyMac Financial Services, Inc. announced the pricing of its previously announced offering of $650 million aggregate principal amount of 7.125% Senior Notes due 2030 (the ?Notes?). The Notes will bear interest at 7.125% per annum and will mature on November 15, 2030. Interest on the Notes will be payable semi-annually on May 15 and November 15 of each year, beginning on November 15, 2024.

The Notes will be fully and unconditionally guaranteed on an unsecured senior basis by the Company?s existing and future wholly owned domestic subsidiaries, other than certain excluded subsidiaries. Proceeds from the offering will be used to repay borrowings under secured MSR facilities, other secured indebtedness, and for other general corporate purposes. The offering is expected to close on May 23, 2024, subject to customary closing conditions.

The offering was made solely by means of a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the ?Securities Act?), and to certain non-U.S. persons pursuant to Regulation S under the Securities Act. The Notes have not been and are not expected to be registered under the Securities Act or under any state securities laws and, unless so registered, may not be offered or sold in the United States or to U.S. persons absent an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.