October 21, 2016 8:11 PM ET

Capital Markets

Company Overview of Private National Mortgage Acceptance Company, LLC

Company Overview

Private National Mortgage Acceptance Company, LLC operates as an asset management company that acquires and manages residential mortgage assets on behalf of private investors. Private National Mortgage Acceptance Company, LLC has strategic partnerships with BlackRock and Highfields Capital. The company was founded in 2012 and is based in Moorpark, California. Private National Mortgage Acceptance Company, LLC operates as a subsidiary of PennyMac Financial Services, Inc.

6101 Condor Drive

Moorpark, CA 93021

United States

Founded in 2012





Key Executives for Private National Mortgage Acceptance Company, LLC

Founder, Chairman of the Board and Chief Executive Officer
Age: 63
President and Chief Operating Officer
Age: 53
Chief Financial Officer
Age: 61
Chief Mortgage Operations Officer
Chief Business Development Officer
Age: 39
Compensation as of Fiscal Year 2016.

Private National Mortgage Acceptance Company, LLC Key Developments

Private National Mortgage Acceptance Company, LLC and PNMAC Finance Corporation Intend to Offer $300 Million Aggregate Principal Amount of Senior Notes Due 2021

PennyMac Financial Services Inc. announced that Private National Mortgage Acceptance company, LLC and PNMAC Finance Corporation intend to offer $300 million aggregate principal amount of senior notes due 2021. The Notes will be guaranteed on a senior basis by PNMAC’s subsidiaries and the Company. PNMAC expects to use the net proceeds to repay amounts borrowed under its revolving credit facility and for general corporate purposes. The offering is subject to market conditions and other factors. The Notes have not been and are not expected to be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States or to U.S. persons absent an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

Private National Mortgage Acceptance Company Enters into Credit Agreement

PennyMac Financial Services Inc. announced through its subsidiary, Private National Mortgage Acceptance Company, LLC, has entered into a credit agreement, dated as of December 30, 2015, by and among the Borrower, the lenders that are parties thereto, Credit Suisse AG, as administrative agent and collateral agent, and Credit Suisse Securities (USA) LLC, as sole bookrunner and sole lead arranger, pursuant to which the lenders have agreed to make revolving loans to the Borrower in an amount not to exceed $100,000,000. Interest on the loans shall accrue at a per annum rate of interest equal to, at the election of the Borrower, either an alternate base rate (as defined in the Credit Agreement) or LIBOR plus the applicable margin. During the existence of certain events of default, interest shall accrue at a higher default rate. The maturity date of the loans is 364 days following the date of the Credit Agreement. The proceeds of the loans are to be used solely for working capital and general corporate purposes of the Borrower and its subsidiaries. Pursuant to the terms of a collateral and guaranty agreement, dated as of December 30, 2015, by and among the Borrower, as grantor, Credit Suisse AG, Cayman Islands Branch, as collateral agent, and the Company and certain of its subsidiaries, PNMAC Capital Management, LLC, PennyMac Loan Services, LLC and PNMAC Opportunity Fund Associates, LLC, as guarantors and grantors, the obligations of the Borrower under the Credit Agreement are guaranteed by each of the referenced guarantors and secured by a grant by each of the referenced grantors of their respective right, title and interest in and to limited and otherwise unencumbered (other than with respect to specified permitted encumbrances) specified contract rights, specified deposit accounts, all documents and instruments related to such specified contract rights and specified deposit accounts, and any and all proceeds and products thereof.

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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