Here are the 424B prospectus supplements from PennyMac Mortgage Investment Trust (PMT) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow PMT and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PMT filings page.
PennyMac Corp., an indirect wholly owned subsidiary of PennyMac Mortgage Investment Trust (PMT), is issuing $75,000,000 of new 8.500% Exchangeable Senior Notes due 2029 in a registered direct placement. The notes are priced at 101.24583333% of face value, for total gross proceeds of about $75.93 million, and will form a single series with the existing 8.500% exchangeable notes already outstanding.
The notes pay 8.500% interest, payable semiannually on June 1 and December 1, and mature on June 1, 2029. They are senior unsecured obligations of PennyMac Corp., fully and unconditionally guaranteed on a senior unsecured basis by PMT. The notes are exchangeable into PMT common shares at an initial rate of 63.3332 shares per $1,000 principal amount (equivalent to an initial exchange price of about $15.79 per share), subject to adjustment and certain make‑whole features after specified corporate events.
Net proceeds of approximately $75.6 million are expected to be used to repay a portion of borrowings under secured MSR and servicing advance facilities, to repurchase or repay part of PennyMac Corp.’s 5.50% 2026 exchangeable notes, and for general corporate purposes. The notes will not be listed on an exchange, and carry typical risks for unsecured, exchangeable debt, including subordination to secured and subsidiary-level obligations and the potential impact of PMT share price, interest rates and credit quality on trading values.
PennyMac Corp., an indirect wholly owned subsidiary of PennyMac Mortgage Investment Trust, is issuing $75 million of additional 8.500% Exchangeable Senior Notes due 2029 in a registered direct placement. The notes are priced at 101.08055556% of principal, pay cash interest semiannually on June 1 and December 1, and mature on June 1, 2029. They are senior unsecured obligations of PennyMac Corp. and are fully and unconditionally guaranteed on a senior unsecured basis by PMT.
Holders can exchange the notes into PMT common shares at an initial rate of 63.3332 shares per $1,000 of notes, equivalent to an initial exchange price of about $15.79 per PMT share, subject to adjustment and potential make‑whole increases after certain corporate events. PMT estimates net proceeds of about $75.5 million, to be used to repay secured MSR and servicing advance facilities, repurchase or repay a portion of its 5.50% 2026 Exchangeable Notes, and for general corporate purposes.