PennyMac Financial Services Enters Material Agreement

TL;DR

PMF just signed a big deal, creating new financial obligations.

AI Summary

On February 6, 2025, PennyMac Financial Services, Inc. entered into a material definitive agreement, which also created a direct financial obligation for the registrant. The filing details financial statements and exhibits related to this event.

Why It Matters

This filing indicates a significant new financial commitment or agreement for PennyMac, which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating new financial obligations can introduce financial risks and operational changes for the company.

Key Players & Entities

• PennyMac Financial Services, Inc. (company) — Registrant
• New PennyMac Financial Services, Inc. (company) — Former company name
• February 6, 2025 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — ge on which registered Common Stock, $0.0001 par value PFSI New York Stock Excha
• $850,000,000 — announced offering (the "Offering") of $850,000,000 aggregate principal amount of the Issue

Filing Documents

• tm255695d1_8k.htm (8-K) — 32KB
• tm255695d1_ex4-1.htm (EX-4.1) — 1231KB
• 0001104659-25-010114.txt ( ) — 1680KB
• pfsi-20250206.xsd (EX-101.SCH) — 3KB
• pfsi-20250206_lab.xml (EX-101.LAB) — 33KB
• pfsi-20250206_pre.xml (EX-101.PRE) — 22KB
• tm255695d1_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On February 6, 2025 (the "Closing Date"), PennyMac Financial Services, Inc. (the "Issuer" and, together with its subsidiaries, the "Company") closed the previously announced offering (the "Offering") of $850,000,000 aggregate principal amount of the Issuer's 6.875% Senior Notes due 2033 (the "Notes"). The Issuer sold the Notes to the initial purchasers in the Offering, which was exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The Notes were offered for resale to purchasers reasonably believed to be "qualified institutional buyers" as defined in Rule 144A under the Securities Act and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act. Proceeds from the Offering will be used for the repayment of certain of the Company's indebtedness, which may include the repayment of borrowings under the Company's secured MSR facilities and other secured indebtedness, for the repurchase or repayment of a portion of the Issuer's 5.375% senior notes due October 2025, and for other general corporate purposes. The Notes were issued pursuant to the Indenture, dated as of February 6, 2025 (the "Indenture"), among the Issuer, the guarantors party thereto, and U.S. Bank Trust Company, National Association, as trustee. Interest on the Notes accrues beginning on February 6, 2025 at a rate of 6.875% per year. Interest on the Notes is payable semi-annually on February 15 and August 15 of each year, commencing on August 15, 2025. The Notes mature on February 15, 2033. The Indenture contains customary terms, events of default and covenants for an issuer of non-investment grade debt securities. These covenants include limitations on, among other things, incurring additional debt or issuing certain preferred shares, paying dividends on or making other distributions in respect of capital stock or making other restricted payments, making

03 Creation of a Direct Financial Obligation or an Obligation

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in

01 of this Current Report relating to the Indenture is incorporated by reference into this Item 2.03

Item 1.01 of this Current Report relating to the Indenture is incorporated by reference into this Item 2.03.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 4.1 Indenture, dated as of February 6, 2025, among PennyMac Financial Services, Inc., the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee, relating to the 6.875% Senior Notes due 2033 4.2 Form of Global Note for 6.875% Senior Notes due 2033 (included in Exhibit 4.1) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES 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. PENNYMAC FINANCIAL SERVICES, INC. Date: February 6, 2025 /s/ Daniel S. Perotti Daniel S. Perotti Senior Managing Director and Chief Financial Officer