PennyMac Mortgage Investment Trust closes $172.5 million 9.00% senior notes offering due 2030
PennyMac Mortgage Investment Trust closed an underwritten offering of $172.5 million in 9.00% Senior Notes due 2030 on February 11, 2025, including $22.5 million from the underwriters' full exercise of their over-allotment option. The notes add fixed-rate debt that the company must repay with interest, and they are guaranteed by subsidiary PennyMac Corp.
- Notes carry a 9.00% annual interest rate, paid quarterly, with the first payment on May 15, 2025, and maturity on February 15, 2030.
- The company may redeem the notes at 100% of principal plus accrued interest on or after February 15, 2027, on at least 30 days' notice.
- On a change of control, holders can require repurchase at 101% of principal plus accrued interest.
- The notes are approved for listing on the New York Stock Exchange under the symbol PMTV, with trading expected within 30 days.