PennyMac Economic Products and services, Inc. Announces Proposed Private Featuring of $500 Million of Senior Notes

WESTLAKE VILLAGE, Calif.–(Business enterprise WIRE)–Feb 8, 2021– PennyMac Economic Services, Inc. (NYSE: PFSI) (the “Company”) today declared that it intends to give $500 million aggregate principal quantity of Senior Notes owing 2029 (the “Notes”). The Notes will be fully and unconditionally guaranteed on an unsecured senior basis by the Company’s […]

WESTLAKE VILLAGE, Calif.–(Business enterprise WIRE)–Feb 8, 2021–

PennyMac Economic Services, Inc. (NYSE: PFSI) (the “Company”) today declared that it intends to give $500 million aggregate principal quantity of Senior Notes owing 2029 (the “Notes”). The Notes will be fully and unconditionally guaranteed on an unsecured senior basis by the Company’s current and long term wholly owned domestic subsidiaries, other than sure excluded subsidiaries. The Corporation intends to use the net proceeds from this supplying for basic corporate needs, which may well include things like the repayment of the Company’s present secured warehouse borrowings. The featuring is subject matter to current market ailments and other factors. The featuring will be created only by indicates of a non-public placement to qualified institutional customers pursuant to Rule 144A beneath the Securities Act of 1933, as amended (the “Securities Act”), and to specific non-U.S. individuals pursuant to Regulation S below the Securities Act.

The Notes have not been and are not anticipated to be registered underneath the Securities Act or underneath any point out securities legislation and, unless so registered, could not be presented or bought in the United States or to U.S. individuals absent an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press launch does not constitute an provide to offer or the solicitation of an offer you to invest in any safety and shall not represent an present, solicitation or sale of any safety in any jurisdiction in which this kind of supplying, solicitation or sale would be unlawful.

About PennyMac Financial Products and services, Inc.

PennyMac Fiscal Products and services, Inc. is a specialty fiscal services business with a in depth property finance loan system and built-in organization centered on the output and servicing of U.S. house loan financial loans and the administration of investments related to the U.S. home loan sector.

Ahead-Looking Statements

This push release consists of ahead-hunting statements within just the this means of Area 21E of the Securities Trade Act of 1934, as amended, relating to management’s beliefs, estimates, projections and assumptions with regard to, among the other things, the proposed phrases of the giving of Notes and the use of proceeds therefrom. Words and phrases like “believe,” “expect,” “anticipate,” “promise,” “project,” “plan,” and other expressions or words of similar meanings, as very well as long run or conditional verbs such as “will,” “would,” “should,” “could,” or “may” are generally meant to establish forward-looking statements.

Real effects and operations for any potential time period might vary materially from those projected herein and from past outcomes talked about herein. Aspects which could result in genuine benefits to differ materially from historical results or all those anticipated contain, but are not confined to: the Company’s publicity to hazards of loss and disruptions in operations resulting from adverse temperature circumstances, male-manufactured or pure disasters, weather modify and pandemics these kinds of as COVID-19 failure to modify, resell or refinance early buyout loans the continually switching federal, point out and nearby legislation and polices relevant to the hugely regulated industry in which the Firm operates lawsuits or governmental actions that may well end result from any noncompliance with the regulations and polices relevant to the Company’s businesses the mortgage lending and servicing-linked regulations promulgated by the Buyer Economic Security Bureau and its enforcement of these laws the Company’s dependence on U.S. governing administration-sponsored entities and modifications in their recent roles or their guarantees or guidelines alterations to federal government home finance loan modification packages the licensing and operational necessities of states and other jurisdictions relevant to the Company’s companies, to which the Company’s bank competition are not subject foreclosures delays and variations in foreclosures procedures modifications in macroeconomic and U.S. real estate market place conditions difficulties inherent in escalating mortgage generation volume troubles inherent in altering the measurement of the Company’s operations to replicate changes in enterprise ranges obtain prospects for home loan servicing legal rights and the Company’s good results in profitable bids modifications in prevailing desire prices the Company’s substantial amount of indebtedness expected discontinuation of LIBOR improves in mortgage delinquencies and defaults the Company’s reliance on PennyMac Home loan Expense Trust (NYSE: PMT) as a sizeable supply of funding for, and income related to, the Company’s home finance loan banking organization keeping sufficient money and liquidity to guidance enterprise development such as compliance with fiscal covenants the Company’s obligation to indemnify third-occasion purchasers or repurchase loans if loans that the Organization originates, acquires, products and services or helps in the achievement of, fail to meet selected requirements or properties or less than other conditions the Company’s obligation to indemnify PMT if the Company’s providers fall short to meet up with particular criteria or traits or less than other situations decreases in the returns on the assets that the Company selects and manages for its shoppers, and its ensuing administration and incentive charges the in depth amount of money of regulation applicable to the Company’s investment management segment conflicts of fascination in allocating the Company’s providers and investment decision alternatives between the Corporation and its recommended entities the impact of general public impression on the Company’s status the Company’s modern advancement the Company’s potential to correctly identify, deal with, observe and mitigate money dangers the Company’s initiation or expansion of new enterprise pursuits or tactics the Company’s means to detect misconduct and fraud the Company’s skill to mitigate cybersecurity hazards and cyber incidents the Company’s skill to pay out dividends to its stockholders and the Company’s organizational framework and selected demands in its charter files. You must not place undue reliance on any forward-wanting statement and ought to think about all of the uncertainties and threats explained above, as effectively as individuals extra entirely reviewed in stories and other paperwork submitted by the Company with the Securities and Exchange Fee from time to time. The Firm undertakes no obligation to publicly update or revise any forward-searching statements or any other data contained herein, and the statements designed in this push release are recent as of the date of this release only.

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Supply: PennyMac Economical Products and services, Inc.

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PUB: 02/08/2021 08:10 AM/DISC: 02/08/2021 08:10 AM

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