PennyMac Mortgage Announces It Is Commencing An Underwritten Public Offering Of Senior Notes Due 2030

PennyMac Mortgage Investment Trust (NYSE:PMT) (the "Company" or "PMT") today announced that it is commencing an underwritten public offering of senior notes due 2030 (the "Notes"). The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by PennyMac Corp. ("PMC"), an indirect wholly-owned subsidiary of the Company. The Company intends to use the net proceeds from the offering to fund its business and investment activities, which may include: the investment in subordinated bonds from its private-label securitization activities and other mortgage-related securities; the acquisition of mortgage servicing rights; funding the Company's correspondent lending business, including the purchase of Agency-eligible residential mortgage loans; repayment of other indebtedness, which may include the repurchase or repayment of a portion of PMC's 5.50% exchangeable senior notes due 2026 or secured financing; and for other general business purposes. The interest rate and other terms of the Notes will be determined at the time of pricing the offering.