PennyMac Mortgage Investment Trust (PMT) Files $750M IPO

May 26, 2009 5:22 PM EDT

Late Friday, PennyMac Mortgage Investment Trust (NYSE: PMT) filed a registration statement with the SEC for an initial public offering of its common stock. The proposed maximum aggregate offering price is $750 million. The company plans to list on the NYSE under the symbol "PMT".

The offering is being made through Merrill Lynch, Credit Suisse and Deutsche Bank Securities.

PennyMac is a newly-formed specialty finance company that will invest primarily in residential mortgage loans and mortgage-related assets. The company's objective is to provide attractive risk-adjusted returns to its investors over the long-term, primarily through dividends and secondarily through capital appreciation.


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