PennyMac Mortgage to offer $200M exchangeable senior notes due 2029 via PMC

PennyMac Mortgage Investment Trust

PMC plans $200M private offering of exchangeable senior notes due 2029; purchasers have 13-day option for additional $30M.
Notes are senior unsecured obligations of PMC, fully and unconditionally guaranteed by PMT; exchangeable for cash and/or PMT common shares.
Proceeds to fund business activities: acquisition of MSRs, CRT securities, mortgage loans, and possible repayment of existing 5.50% notes due 2024/2026.
Interest rate, exchange rate, and other terms to be determined at pricing; offering limited to QIBs under Rule 144A.
Notes and underlying common shares are not registered under the Securities Act; no public sale.

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