PennyMac Financial Services, Inc. announced that it is soliciting consents (the Consent Solicitations) from the holders of its (i) 5.375% Senior Notes due 2025 (the 2025 Notes) and (ii) 4.250% Senior Notes due 2029 (the 2029 Notes and together with the 2025 Notes, the Notes) for the adoption of proposed amendments (the Proposed Amendments) to the indentures governing the Notes (the Indentures) to conform the restricted payments covenant and the permitted investments definition included in the applicable Indenture to the restricted payments covenant and permitted investments definition, respectively, contained in the indenture governing the Companys 5.75% Senior Notes due 2031, which were issued on September 16, 2021 (the 2031 Notes Indenture). Conforming the restricted payments covenant and the permitted investments definition included in the applicable Indenture to the restricted payments covenant and the permitted investments definition, respectively, contained in the 2031 Notes Indenture will closely align the restricted payments covenant across the Companys indentures to other recent senior note issuances by industry peers and current market standards and will align the dollar-denominated baskets in the permitted investments definition across the Companys indentures, but will result in no additional restricted payments capacity and less than $1.0 million of additional permitted investments capacity, in each case, as of the last testing date (June 30, 2021). The Consent Solicitations are being made pursuant to a Consent Solicitation Statement, dated September 27, 2021 (as may be amended or supplemented from time to time, the Consent Solicitation Statement). Each Consent Solicitation was commenced today and will expire at 5:00 p.m., New York City time, on October 5, 2021, unless extended by the Company (each such date and time, as the same may be extended, is referred to as the Expiration Time). Only holders of the applicable Notes as of 5:00 p.m., New York City time, on September 24, 2021 (such date and time, including as such date and time may be changed by the Company, from time to time, the Record Date) are entitled to consent to the Proposed Amendments pursuant to the applicable Consent Solicitation. The Proposed Amendments will be set forth in supplemental indentures relating to the Notes and are described in more detail in the Consent Solicitation Statement. To amend either Indenture, the Company must receive consents from holders (as of the Record Date) representing a majority in aggregate principal amount outstanding (not including any Notes which are owned by the Company or any of its affiliates) of such series of Notes (with respect to any such series, the Requisite Consents). With respect to each Consent Solicitation, the Company will, within three business days of the Expiration Time, provided that all applicable conditions to the Consent Solicitations as described in the Consent Solicitation Statement have been satisfied or waived, pay (i) to holders of the 2025 Notes who deliver a consent and for which the applicable Requisite Consents have been delivered and not validly revoked for the 2025 Notes, a cash payment equal to $2.50 per $1,000 principal amount of 2025 Notes in respect of which such consents have been validly delivered prior to the applicable Expiration Time and not validly revoked by such holders as total consideration for such consent (the 2025 Consent Fee) and (ii) to holders of the 2029 Notes who deliver a consent and for which the applicable Requisite Consents have been delivered and not validly revoked for the 2029 Notes, a cash payment equal to $2.50 per $1,000 principal amount of 2029 Notes in respect of which such consents have been validly delivered prior to the applicable Expiration Time and not validly revoked by such holders as total consideration for such consent (the 2029 Consent Fee and, together with the 2025 Consent Fee, the Consent Fees). No Consent Fees will be paid to any holder of Notes for which series the Requisite Consents have been obtained unless such holder delivers a consent in accordance with the terms of the Consent Solicitation Statement prior to the applicable Expiration Time. The consummation of each Consent Solicitation is conditioned on the receipt of the applicable Requisite Consents for the other Consent Solicitation.