On May 8, 2025, PennyMac Financial Services, Inc. closed the offering of $850,000,000 aggregate principal amount of 6.875% Senior Notes due 2032. The offering was exempt from the registration requirements of the Securities Act of 1933, targeting qualified institutional buyers and non-U.S. persons. The proceeds will be used to redeem the company's 5.375% senior notes due October 2025, repay borrowings under secured MSR facilities, and for other corporate purposes.
The notes are governed by an Indenture with U.S. Bank Trust Company as trustee, featuring customary covenants and redemption options.
PennyMac Financial Services, Inc. is a specialty financial services company, which is focused on the production and servicing of the United States mortgage loans and the management of investments related to the United States mortgage market. The Company operates through two segments: production and servicing. The production segment performs loan origination, acquisition and sale activities for its account, as well as for PennyMac Mortgage Investment Trust (PMT). Its loan production segment sources new prime credit quality residential conventional and government-insured or guaranteed mortgage loans through three channels: correspondent production, broker direct lending and consumer direct lending. The servicing segment performs servicing and subservicing of loans on behalf of non-affiliate investors, execution and management of early buyout transactions, and servicing of loans sourced and managed for PMT.
This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
-
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.
-
Quality
Quality
This composite rating is the result of an average of rankings based on the following ratings: Returns (Composite), Profitability (Composite) and Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully read the associated descriptions.
-
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
