By Wendy Van Sickle
Columbus, Ohio, March 7 – PennyMac Financial Services, Inc. indirect subsidiary PNMAC GMSR Issuer Trust issued $425 million of five-year secured term notes (Kroll: BBB) under Rule 144A on Feb. 29, according to an 8-K filing with the Securities and Exchange Commission.
The notes bear interest at SOFR plus 320 basis points.
The notes mature on March 25, 2029 but may be extended through either March 25, 2030 or March, 25, 2031.
The securities are guaranteed by the parent company.
The real estate investment trust is based in Westlake Village, Calif.
| Issuer: | PNMAC GMSR Issuer Trust
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| Guarantor: | PennyMac Financial Services, Inc.
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| Amount: | $425 million
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| Issue: | Secured term notes
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| Maturity: | March 25, 2029, extendable through either March 25, 2030 or March, 25, 2031
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| Coupon: | SOFR plus 320 bps
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| Settlement date: | Feb. 29
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| Rating: | Kroll: BBB
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| Distribution: | Rule 144A
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