[8-K] loanDepot, Inc. Reports Material Event

Rhea-AI Filing Summary

PepsiCo (PEP) filed an 8-K (Item 8.01) disclosing the completion of a euro-denominated senior notes offering.

• Instruments issued: €500 m 3.450% Senior Notes due 2037 and €500 m 4.050% Senior Notes due 2055.
• Gross proceeds: €1.0 bn; net proceeds: approximately €989 m after underwriting discounts and expenses.
• Use of funds: general corporate purposes, including repayment of commercial paper.
• Pricing: issued at 99.546% (2037) and 99.674% (2055); make-whole call at CGB +15 bps until par-call windows (Apr 28 2037 / Jan 28 2055).
• Ranking: unsecured, pari passu with existing senior debt; governed by the Feb 12 2024 indenture with U.S. Bank Trust Co.
• Bookrunners: Deutsche Bank, HSBC, Mizuho.

The transaction lengthens PepsiCo’s debt maturity profile at fixed rates near current euro yields and modestly increases total leverage. No changes to guidance, operations or covenant structure were disclosed.

Insights

Fixed-Income Analyst

TL;DR: Routine €1 bn bond sale strengthens liquidity, adds long-dated euro debt; impact modestly positive.

The dual-tranche issue locks in sub-4.1% coupons for 12- and 30-year money, attractive relative to U.S. dollar curve and PepsiCo’s weighted-average cost of debt (~3.6%). Proceeds refinance short-term commercial paper, limiting incremental leverage and reducing near-term rollover risk. Demand appeared healthy given near-par pricing and tight 15 bp make-whole spread. Because PepsiCo already maintains A/A1 ratings, the deal is unlikely to move credit metrics materially; however, it marginally improves liquidity duration and diversifies funding. Equity impact is neutral as dilution is absent and interest expense rise is immaterial versus 2024 EBIT of >$13 bn.

Portfolio Manager

TL;DR: Standard liability-management exercise; equity-holder effect minimal.

The offering signals continued access to deep European debt markets at favorable terms. Euro coupons compare well to recent dollar issues (e.g., 3.55% 2034). While total debt inches up, PepsiCo’s net-debt/EBITDA remains under 2×, leaving capital-return capacity intact. No covenant restrictions or share-buyback commentary were added, so valuation drivers stay unchanged. Overall, the filing is not market-moving but confirms balance-sheet flexibility.

FALSE000183163100018316312025-07-272025-07-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________

FORM 8-K

_____________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (or date of earliest event reported): July 27, 2025

_____________________

loanDepot, Inc.

(Exact Name of Registrant as Specified in its Charter)

_____________________

Delaware

001-40003

85-3948939

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification Number)

6561 Irvine Center Drive

Irvine, California 92618

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (888) 337-6888

_____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A Common Stock, $0.001 Par Value

LDI

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  o

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 27, 2025, the Board of Directors (‘the Board”) of loanDepot, Inc., a Delaware corporation (the “Company”), appointed Anthony Hsieh as Chief Executive Officer and President, effective immediately. He served as Interim CEO from June 4, 2025, until this permanent appointment.

Mr. Hsieh, 60, founded loanDepot and has served as Chair of the Board since February 2021. Mr. Hsieh has been our Executive Chairman since March 2025 and he also served as Executive Chairman from April 2022 to February 2023. He served as CEO of loanDepot from February 2021 to April 2022 and as the Chair and CEO of the Company’s affiliate, loanDepot.com, LLC, between December 2009 (when the business was formed) until April 2022. Mr. Hsieh has more than 35 years of experience in the lending industry. Prior to starting loanDepot, in 2002, Mr. Hsieh founded Home Loan Center, Inc., the first national online lender to offer a full spectrum of mortgage loan products featuring live interest-rate quotes and loan offerings tailored to borrowers’ needs and credit profiles. He continued to lead the business for three years after it merged with IAC’s subsidiary, LendingTree in 2004. In 1989, he acquired a mortgage brokerage company and transformed it into LoansDirect.com.

No changes were made at this time to Mr. Hsieh’s compensation in connection with this appointment and he continues to be eligible for the compensation described under “—Director Compensation” in the Company’s Proxy Statement filed with the Securities and Exchange Commission (the “SEC”) on April 4, 2025, including equity grants as described therein. His related person transactions are described in the Company’s Proxy Statement filed with the SEC under “—Related Party Transactions,” and, together with the compensation disclosures under “—Director Compensation,” are incorporated herein by this reference.

Item 7.01. Regulation FD Disclosure.

On July 27, 2025, the Company issued a press release announcing the events described in Item 5.02 of this Current Report on Form 8-K. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.			Description
99.1			Press Release, dated July 28, 2025.
104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

loanDepot, Inc.
By:			/s/ Gregory Smallwood
Name: Gregory Smallwood
Title: Chief Legal Officer

Date: June 28, 2025

FAQ

What did PepsiCo (PEP) announce in its July 28 2025 8-K?

It completed a €1 bn offering of 3.450% notes due 2037 and 4.050% notes due 2055.

How much net cash will PepsiCo receive from the bond sale?

Approximately €989 million after discounts and expenses.

What will PepsiCo use the proceeds for?

General corporate purposes, including repayment of outstanding commercial paper.

Are the new notes secured or unsecured?

They are unsecured senior obligations, ranking pari passu with existing senior debt.

Who managed the offering?

Deutsche Bank AG, London Branch, HSBC Bank plc and Mizuho International plc served as joint book-running managers.

When do the notes mature and what are their coupons?

2037 notes mature July 28 2037 at 3.450%; 2055 notes mature July 28 2055 at 4.050%.