Pagaya prices upsized $500M 8.875% senior unsecured notes due 2030 to refinance debt

Pagaya Technologies Ltd.

Offering upsized to $500M from $450M; net proceeds est. ~$491M after discounts and expenses.
8.875% coupon payable semi-annually; notes mature August 1, 2030.
Proceeds to repay all existing credit facilities and ~$100M of secured borrowings; remainder for general corporate purposes.
Notes fully and unconditionally guaranteed on a senior unsecured basis by Pagaya and its guarantor subsidiaries.
Settlement scheduled for July 28, 2025, subject to customary closing conditions.

item 8.01item 9.01

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