PennyMac Financial Services, Inc. Announces Pricing of Upsized Private Offering of $650 Million of Senior Notes

Classified in: Covid-19 virus
Subject: Bond Issue

PennyMac Financial Services, Inc. (NYSE: PFSI) (the “Company”) today announced the pricing of its offering of $650 million aggregate principal amount of 4.250% Senior Notes due 2029 (the “Notes”). The size of the offering was increased from the previously announced $500 million aggregate principal amount. The Notes will bear interest at 4.250% per annum and will mature on February 15, 2029. Interest on the Notes will be payable semi-annually on February 15 and August 15 of each year, beginning on August 15, 2021. 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. The Company intends to use the net proceeds from this offering for general corporate purposes, which may include the repayment of the Company’s existing secured warehouse borrowings. The offering is expected to

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Flowserve Announces Dates for Fourth Quarter and Full Year 2020 Financial Results

DALLAS–(BUSINESS WIRE)–Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced that it plans to release its results for the fourth quarter and full year 2020 after the close of the New York Stock Exchange (NYSE) on Thursday, February 18.

The following morning, on Friday, February 19, the company will hold its conference call with the financial community at 11 a.m. Eastern time. Scott Rowe, president and chief executive officer, and other members of management will present.

The earnings materials and webcast of the conference call can be accessed by shareholders and other interested parties at under the “Investor Relations” section.

About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as

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Coastal Financial Corporation Announces Fourth Quarter and Year End 2020 Results

2020 Highlights:

  • Net income totaled $15.1 million for the year ended December 31, 2020, or $1.24per diluted common share, an increase of 14.0% from $13.2 million, or $1.08 per diluted common share, for the year ended December 31, 2019.
  • Basic earnings per share increased 30.0%, and diluted earnings per share increased 26.7%, for the quarter ended December 31, 2020, compared to the quarter ended December 31, 2019.
  • An $8.3 million provision for loan losses was recorded during the year ended December 31, 2020, largely due to continued economic uncertainties from the COVID-19 pandemic.
  • Total assets grew $637.6 million, or 56.5%, to $1.77 billion for the year ended December 31, 2020, compared to $1.13 billion at December 31, 2019.
  • Total loans receivable, net, including $365.8 million in PPP loans, grew $608.0 million, or 64.7%, to $1.55 billion for the year ended December 31, 2020, compared to $939.1 million at December
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Asbury Automotive Group Announces Fourth Quarter Financial Results

DULUTH, Ga., Feb. 2, 2021 /PRNewswire/ — Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., reported net income for the fourth quarter 2020 of $89.1 million ($4.59 per diluted share).  This compares to net income of $43.6 million ($2.26 per diluted share) in the prior year quarter, a 104% increase.

The financial measures discussed below include both GAAP and adjusted (non-GAAP) financial measures. Please see reconciliations for our non-GAAP metrics included in the accompanying financial tables.

“The fourth quarter of 2020 was a pivotal period for us where we launched our online car buying platform Clicklane and also unveiled our five year strategic plan to reach $20 billion of revenue by 2025,” said David Hult, Asbury’s President and Chief Executive Officer.  “On top of this, we posted the best quarterly results in our company’s history with

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L Brands Announces Chief Financial Officer Stuart Burgdoerfer to Retire in August 2021

The MarketWatch News Department was not involved in the creation of this content.

COLUMBUS, Ohio, Feb 04, 2021 (GLOBE NEWSWIRE via COMTEX) —
Martin Waters Promoted to CEO of Victoria’s Secret

Raises Fourth Quarter Earnings Guidance

COLUMBUS, Ohio, Feb. 04, 2021 (GLOBE NEWSWIRE) — L Brands, Inc. (NYSE: LB) announced today that Stuart Burgdoerfer has communicated to the Board of Directors his desire to retire as CFO of L Brands and Interim CEO of the Victoria’s Secret business. Martin Waters, currently CEO of Victoria’s Secret Lingerie, has been promoted to CEO of the Victoria’s Secret business and will assume those responsibilities effective immediately. Waters will report to Andrew Meslow, CEO of L Brands. Burgdoerfer will remain in his CFO role through August 2021. The company has initiated a search for Burgdoerfer’s successor as CFO, which will include both internal and external candidates.

The Board and management remain committed to separating

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First Western Financial, Inc. Announces Addition of Scott Mitchell and Julie Courkamp to Board of Directors

The MarketWatch News Department was not involved in the creation of this content.

DENVER, Feb. 04, 2021 (GLOBE NEWSWIRE) — First Western Financial, Inc. (NASDAQ: MYFW), a financial services holding company headquartered in Denver, Colorado (“First Western” or the “Company”), today announced the appointments of Scott C. Mitchell and Julie A. Courkamp to the Company’s Board of Directors. With the addition of Mr. Mitchell and Ms. Courkamp, the size of the Company’s Board of Directors has been increased from 9 to 11 members.

Scott C. Wylie, Chairman and CEO of First Western, said, “Since starting the Company, our goal has always been to have a Board of Directors that consists of highly qualified members that represent a diverse range of experience and skill sets. With the addition of Scott and Julie, we have further strengthened our Board with expertise in important

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