PMT subsidiary prices $200M 8.5% exchangeable senior notes due 2029

PennyMac Mortgage Investment Trust

PennyMac Corp., a wholly-owned subsidiary, issued $200M of 8.500% Exchangeable Senior Notes due 2029.
Initial exchange price of $15.79 per common share, a 15% premium over the $13.73 closing price on May 21, 2024.
Net proceeds of approximately $195.3M; initial purchasers have a 13-day option for an additional $30M.
Proceeds to fund MSR/CRT acquisitions, correspondent lending, debt repayment, and general business purposes.

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