PennyMac Mortgage Investment Trust (PMT): debt financing — PennyMac ups FMSR financing facility by $215M to $370M, adds two lenders

PennyMac Mortgage Investment Trust

Series 2023-FTL1 Loan note balance increased from $155M to $370M via joinder of Veritex Community Bank ($65M) and Western Alliance Bank ($150M).
Five-year term expires May 25, 2028, with one-year optional extension; facility backs Fannie Mae mortgage servicing rights and related receivables.
New lender breakdown: First Foundation $30M, NexBank $75M, Texas Capital $50M, Veritex $65M, Western Alliance $150M.
Concurrent amendment to base indenture (Amendment No. 7) updates terms to accommodate the additional lenders.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PennyMac Mortgage Investment Trust amended credit facility of $215 million to $370 million with Citibank, N.A. maturing May 25, 2028.

Instrument: credit facility
Principal: $215 million to $370 million
Counterparty: Citibank, N.A.
Maturity: May 25, 2028
Event: amendment

Exact text from the filing

The note balance of the Series 2023-FTL1 Loan is increased by $215 million to $370 million.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PennyMac Mortgage Investment Trust amended amendment no. 1 and joinder with Issuer Trust, PMC, Citibank, N.A., Atlas Securitized Products, L.P. valued at note balance ... increased by $215 million to $370 million (effective 2023-08-16).

Action: amendment
Agreement: credit facility
Counterparty: Issuer Trust, PMC, Citibank, N.A., Atlas Securitized Products, L.P.
Value: note balance ... increased by $215 million to $370 million
Effective: 2023-08-16

Exact text from the filing

the Company entered into (i) an amendment no. 1 and joinder (“Joinder Amendment”) to the Series 2023-FTL1 Indenture Supplement and Loan Agreement by and among Issuer Trust, as issuer, PMC, as administrator and servicer, Citibank, N.A., as indenture trustee (“Citibank”), calculation agent, paying agent and securities intermediary, Atlas Securitized Products, L.P., as administrative agent (“ASP”), and the syndicated lenders party thereto (the “Series 2023-FTL1 Loan Agreement”)

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PennyMac Mortgage Investment Trust filing history →

Source: SEC EDGAR

accession 0001193125-23-215060

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