Business
PennyMac Mortgage Investment Trust Prices Further Reopening of $75 Million of 8.500% Exchangeable Senior Notes Due 2029
WESTLAKE VILLAGE, Calif., December 18, 2025--PennyMac Mortgage Investment Trust (NYSE: PMT) ("PMT" or the "Company") today announced that its indirect wholly-owned subsidiary, PennyMac Corp. ("PMC"), has priced an offering of $75 million aggregate principal amount of its 8.500% Exchangeable Senior Notes due 2029 (the "Notes") to an investor in a direct placement registered under the Securities Act of 1933, as amended. The Notes will be issued as a further reopening of, and will be part of the sa
About this update from Pennymac Mortgage Investment Trust
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":1897,"height":535,"url":"https://media.zenfs.com/en/business-wire.com/1e5e99007bf8cd7a27be9ca2dcdf752f"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/S06JgN5aSDWtVB9wrNWhmw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTI3MTtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/1e5e99007bf8cd7a27be9ca2dcdf752f","width":960,"height":271},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/W30bQapwwl4IHPTS4PWyRg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTI0MDA7aD02NzY7Y2Y9d2VicA--/https://media.zenfs.com/en/business-wire.com/1e5e99007bf8cd7a27be9ca2dcdf752f","width":1200,"height":338}},"lazy":false},{"type":"text","content":"WESTLAKE VILLAGE, Calif., December 18, 2025--(BUSINESS WIRE)--PennyMac Mortgage Investment Trust (NYSE: PMT) ("PMT" or the "Company") today announced that its indirect wholly-owned subsidiary, PennyMac Corp. ("PMC"), has priced an offering of $75 million aggregate principal amount of its 8.500% Exchangeable Senior Notes due 2029 (the "Notes") to an investor in a direct placement registered under the Securities Act of 1933, as amended. The Notes will be issued as a further reopening of, and will be part of the same series as, the $291.5 million aggregate principal amount of 8.500% Exchangeable Senior Notes due 2029 that PMC previously issued in May 2024 and in a reopening earlier in December 2025, all of which are outstanding. The issuance and sale of the Notes are expected to close on December 22, 2025, subject to the satisfaction of certain closing conditions. Interest on the Notes is payable semiannually in arrears on June 1 and December 1 of each year. The Notes will be fully and unconditionally guaranteed by the Company.","length":1080,"tagName":"p"},{"type":"text","content":"Upon exchange, PMC will pay cash up to the aggregate principal amount of the Notes to be exchanged and pay or deliver, as the case may be, cash, PMT’s common shares of beneficial interest ("Common Shares") or a combination thereof, at PMC’s election, in respect of the remainder, if any, of its exchange obligation in excess of the aggregate principal amount of the Notes being exchanged. The exchange rate will initially equal 63.3332 Common Shares per $1,000 principal amount o...