PennyMac Financial Services Inc. Announces Pricing of Initial Public Offering

PennyMac Financial Services Inc. Announces Pricing of Initial Public Offering

MOORPARK, Calif.--(BUSINESS WIRE)-- PennyMac Financial Services, Inc. (NYS: PFSI) today announced the pricing of its initial public offering of 11,111,111 shares of its Class A common stock at a price to the public of $18.00 per share. All of the shares of Class A common stock are being offered by the Company. The shares will be listed on the New York Stock Exchange and are expected to begin trading under the ticker symbol "PFSI" beginning on May 9, 2013. The underwriters also have a 30-day option to purchase up to an additional 1,666,666 shares of Class A common stock from the Company at the initial public offering price less the underwriting discount. The offering is expected to close on May 14, 2013.

Citigroup Global Markets, Inc., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Barclays Capital Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are acting as co-managers for the offering.


The offering of these securities is being made only by means of a prospectus, copies of which may be obtained from the offices of: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (tel: 800-831-9146), or by email: BATProspectusdept@citi.com; BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, New York, NY 10038, or by email: dg.prospectus_requests@baml.com; Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010 (tel: (800) 221-1037), or by e-mail: newyork.prospectus@credit-suisse.com; or Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, NY 10282 (tel: 866-471-2526, fax: 212-902-9316), or by email: prospectus-ny@ny.email.gs.com.

A registration statement relating to the shares of Class A common stock has been filed with, and declared effective by, the Securities and Exchange Commission. This press release does not constitute an offer to sell, or the solicitation of an offer to buy the securities described above, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About PennyMac Financial Services, Inc.

PennyMac Financial Services, Inc. is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. residential mortgage loans and the management of investments related to the U.S. residential mortgage market. PennyMac Financial Services, Inc. is headquartered in Moorpark, California.

Forward-Looking Statements

This press release contains forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to the Company's operations and business environment, all of which are difficult to predict and many of which are beyond the Company's control.



PennyMac Financial Services, Inc.
Media
Kevin Chamberlain
(818) 746-2877
or
Investors
Christopher Oltmann
(818) 746-2046

KEYWORDS:   United States  North America  California

INDUSTRY KEYWORDS:

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