Company news roundup: PennyMac upsizes offering, Zillow acquires home tour platform and more

PennyMac Financial Services announced on Feb. 8 the pricing of its offering of $650 million aggregate principal amount of senior notes. The notes will bear interest at 4.250% per annum and will mature on Feb. 15, 2029. The size of the offering was increased from the previously announced $500 million aggregate principal amount. PennyMac intends to use the net proceeds from this offering for general corporate purposes, which may include the repayment of the company’s existing secured warehouse borrowings. The offering is expected to close on Feb. 11, 2021, subject to customary closing conditions.

Leahy Lending, based in Austin, announced on Feb. 10 that it is joining Huntville, Alabama-based Hometown Lenders Inc., bringing over 75 years of experience to form Hometown Lender’s new Texas region.

Envoy Mortgage announced on Feb. 10 that it has opened a new branch in Milford, Connecticut. The expansion adds to Envoy’s Northeast lending team, with Debbie Siena leading the new branch.

Rocket Mortgage and HomeFree-USA announced on Feb. 11 an expansion of their ongoing partnership, which will continue financial education and career preparation through HomeFree’s flagship education initiative, The Center for Financial Advancement (CFA), at six historically Black colleges and universities (HBCUs). CFA was founded to introduce HBCU students to the mortgage and real estate finance industry as a career opportunity and elevate their money management skills, while teaching them about homeownership, credit and building wealth.

Zillow announced on Feb. 11 that it has acquired online home tour scheduling platform ShowingTime for $500 million. In 2020, the company facilitated more than 50 million showings nationwide. No closing date has been announced and the transaction is subject to customary closing conditions.

UpEquity announced on Feb. 11 the closing of $25 million in Series A funding led by Next Coast Ventures. The funding consists of $7.5 million of equity financing and $17.5 million of venture debt. UpEquity intends to use the funding for product and business development.


More Headlines