PennyMac subsidiary issues $75M of 8.500% Exchangeable Notes due 2029

PennyMac Mortgage Investment Trust

Issued $75M aggregate principal of 8.500% Exchangeable Senior Notes due 2029 as a reopening; total outstanding now $291.5M.
Net proceeds of ~$75.5M to repay secured MSR facility borrowings and repurchase/repay 5.50% Exchangeable Notes due 2026.
Notes mature June 1, 2029; interest 8.5% payable semiannually; exchangeable into PMT common shares at $15.79 per share.
Notes are senior unsecured obligations of subsidiary, fully and unconditionally guaranteed by PMT; no redemption prior to maturity.

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 incurred convertible notes of $75 million aggregate principal amount with The Bank of New York Mellon Trust Company, N.A. at 8.500% maturing June 1, 2029.

Instrument: convertible notes
Principal: $75 million aggregate principal amount
Counterparty: The Bank of New York Mellon Trust Company, N.A.
Rate: 8.500%
Maturity: June 1, 2029
Event: incurrence

Exact text from the filing

On December 15, 2025, PennyMac Corp. (the “Issuer”), an indirect, wholly-owned subsidiary of PennyMac Mortgage Investment Trust (the “Company”), issued $75 million aggregate principal amount of the Issuer’s 8.500% Exchangeable Senior Notes due 2029 (the “2029 Exchangeable Notes”) in a direct placement registered under the Securities Act of 1933, as amended, pursuant to securities purchase agreements with the respective investors named therein (the “Offering”).

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PennyMac Mortgage Investment Trust filing history →

Source: SEC EDGAR

accession 0001193125-25-319522

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