While the housing market and construction market have remained strong in the Richmond region during the COVID-19 pandemic and economic downturn, “You don’t see many affordable housing units being built,” she said. “The demand for affordable housing exceeds the supply. There are many low-income families and seniors who struggle to pay the rent.”
PennyMac Financial Services, Inc. Announces Pricing of Upsized Private Offering of $650 Million of Senior Notes
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