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

3 months ago Amanda T. Noriega
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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Better Housing Coalition gets $3 million donation from Altria to help finance affordable housing in the Richmond region | Business News

3 months ago Amanda T. Noriega

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.”

Rental costs range from about $500 per month to $1,300 per month at the various Better Housing Coalition multifamily units in the area.

BHC mostly develops and provides rental units, but the organization also plans to use the money from the Altria donation to support homeownership opportunities for at least 50 households.

It also plans to offer more support services for residents. For instance, BHC is planning to provide telehealth services to at least 200 low-income senior residents.

Altria, the parent company of top U.S. tobacco company Philip Morris USA, is offering the contribution as part of

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Before Its Splashy Super Bowl Ad, Soap Startup Dr. Squatch Built A $100 Million Business

3 months ago Amanda T. Noriega

Love it or hate it, Dr. Squatch made a splash with its Super Bowl ad targeted to manly men last night.

But before the TV commercial, founder Jack Haldrup, a 33-year-old entrepreneur, had already built a $100 million direct-to-consumer business for Dr. Squatch’s soaps, haircare and deodorants off viral YouTube videos.

Haldrup, who has a bachelor’s in finance and a master’s in information systems from Indiana University, started the company in 2013 with the basic idea of natural soap for men. In a 2018 interview with the San Diego Union-Tribune, Haldrup explained that he suffered from psoriasis and had been shopping at farmer’s markets for soap that didn’t irritate his skin. But he wanted to sell to men who would never go to farmer’s markets — and didn’t want to smell like lavender. “Our customer is not the guy who already shops at

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Ann Arbor approves $1.2 million contract increase for water service line replacement

3 months ago Amanda T. Noriega

ANN ARBOR, MI – The Ann Arbor City Council approved a $1.2 million contract increase to replace home water service lines that are connected to lead parts or may have been in the past.

The project must start this year as a result of Michigan’s Lead and Copper rules.

The contract increase was approved at the council’s regular meeting on Monday, Feb.1 where Council Member Travis Radina questioned what factors went into the dramatic increase of $1.2 million, bringing the total contract amount to $1.5 million, an increase of about 359 percent.

“I guess I was trying to just get a little bit better of a sense as to why the initial project was so much lower than what is being asked to approve of now,” Radina said.

As stated in Michigan’s Lead and Copper rules, cities must replace five percent of galvanized lines a year based on their inventory.

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Vested Finance Raises $3.6 Million USD to Bring U.S. Stocks to Indian Investors

3 months ago Amanda T. Noriega

SAN FRANCISCO and MUMBAI, India, Feb. 4, 2021 /PRNewswire/ — Vested Finance, a Silicon Valley-based online investment platform that enables Indian investors to invest in the U.S. stock market, today announced it has raised a $3.6 million seed funding round with participation from Moving Capital, Ovo Fund and TenOneTen Ventures in the U.S., and Inflection Point Ventures and Venture Catalysts in India. The company will use the new funds to accelerate product development and hire talent across the U.S. and India.

Vested is on a mission to enable sustainable wealth creation by allowing local investors to invest globally. Founded two years ago, the company saw rapid growth in 2020. Money deposited into Vested accounts grew 26x over the last twelve months, along with a 5x increase in U.S. brokerage accounts opened through the platform. Vested processed more than $100 million in trades in 2020, and more than half of

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Desert Financial Credit Union Gives Back $5 Million+ In COVID-19 Relief in 2020 | News

3 months ago Amanda T. Noriega

PHOENIX, Feb. 4, 2021 /PRNewswire/ — Many organizations shuttered doors and turned away customers in the wake of the pandemic. But the “Angel of the Year-Business” lived up to its title. Desert Financial Credit Union invested more than $5 million in 2020 to help members ($2,227,200), the community ($1,229,413) and employees ($1,815,279) during this time of need.

The state’s largest credit union and a member-owned cooperative, Desert Financial’s mission to share success fuels a robust focus on philanthropy and community engagement. When the pandemic broke, leaders decided to double-down on that people-first strategy and instead of scaling back, moved ahead with record giving back.

“As an essential service, it was important to do everything in our power to remain open,” said Jeff Meshey, President and CEO at Desert Financial. “It’s critical for people experiencing anxiety to know their finances are protected and accessible. So, we took measures

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