---
schema_version: "secwatch.filing_event.v1"
accession: "0001883085-25-000187"
form_type: "8-K"
ticker: "PGY"
cik: "0001883085"
company_name: "Pagaya Technologies Ltd."
filed_at: "2025-10-02T23:59:59+00:00"
generated_at: "2026-05-17T04:57:55.897504+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Pagaya expands revolver to $132M, slashes rate by 400 bps to SOFR+350

## Summary
- New $132M senior secured revolver replaces prior $58M facility; maturity October 2028.
- Interest rate cut ~35%: from SOFR+750 to SOFR+350, below recent 8.875% bond coupon.
- Backed by new lenders Wells Fargo, Citizens, TD Bank, Texas Capital; existing lenders increased commitments.
- Facility cost of debt materially lower; CFO says strengthens balance sheet and positions for all cycles.

## SEC filing metadata
- accession: 0001883085-25-000187
- form_type: 8-K
- ticker: PGY
- cik: 0001883085
- company_name: Pagaya Technologies Ltd.
- filed_at: 2025-10-02T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1883085/000188308525000187/0001883085-25-000187-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1883085/000188308525000187/pgy-20251001.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001883085-25-000187
- JSON: https://secwatch.observer/filing/0001883085-25-000187.json
- Plain text: https://secwatch.observer/filing/0001883085-25-000187.txt

## Source-grounded claims
- claim_id: 827821443fcad6141583388fc6c27e33ff62c218
  claim: Pagaya Technologies Ltd. incurred revolving credit of $132 million with BMO BANK N.A., Valley National Bank, Wells Fargo Bank, National Association, Citizens Bank N.A., The Toronto-Dominion Bank, New York Branch, Texas Capital Bank, Israel Discount Bank Ltd, Canadian Imperial Bank of Commerce, New York Branch at base rate plus 2.50% or adjusted term SOFR plus 3.50% maturing October 2, 2028.
  evidence_excerpt: the 2024 Credit Agreement. The 2025 Credit Agreement provides for a senior secured revolving credit facility (the “Revolving Credit Facility”) in an initial committed amount of $132 million. The lenders include BMO BANK N.A., Valley National Bank, Wells Fargo Bank, National Association, Citizens Bank N.A., The Toronto-Dominion Bank, New York Branch, Texas Capital
  evidence_url: https://www.sec.gov/Archives/edgar/data/1883085/000188308525000187/0001883085-25-000187-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.