{"schema_version":"secwatch.filing_event.v1","accession":"0001883085-25-000157","form_type":"8-K","ticker":"PGY","cik":"0001883085","company_name":"Pagaya Technologies Ltd.","filed_at":"2025-07-28T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.508136+00:00","generated_at":"2026-05-18T00:26:13.549310+00:00","sec_items":["1.01","8.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Pagaya closes upsized $500M 8.875% senior unsecured notes; 5x oversubscribed","bullets":["$500M 8.875% senior unsecured notes due 2030 closed; upsized from original offering size.","Net proceeds used to refinance existing higher-cost term loan and secured borrowings; cost of debt lowered ~200 bps.","Expects ~$40M annual cash flow savings: $30M reduced amortization and $12M interest expense reduction.","One of first fintechs to access high-yield unsecured debt markets; rated by S&P, Moody's, Fitch.","Generally flat net leverage maintained despite the refinancing."],"urls":{"canonical":"https://secwatch.observer/filing/0001883085-25-000157","json":"https://secwatch.observer/filing/0001883085-25-000157.json","markdown":"https://secwatch.observer/filing/0001883085-25-000157.md","text":"https://secwatch.observer/filing/0001883085-25-000157.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1883085/000188308525000157/0001883085-25-000157-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1883085/000188308525000157/pgy-20250728.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-18T00:26:13.549310+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}