secwatch.observer — SEC 8-K summary
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Issuer:     Pagaya Technologies Ltd. (PGY)
CIK:        0001883085
Form:       8-K
Filed at:   2025-10-02T23:59:59+00:00
Accession:  0001883085-25-000187
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 1.02, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883085/000188308525000187/0001883085-25-000187-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883085/000188308525000187/pgy-20251001.htm
  HTML page:      https://secwatch.observer/filing/0001883085-25-000187

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