08:57 AM EDT, 05/21/2024 (MT Newswires) -- PennyMac Mortgage Investment Trust ( PMT ) said Tuesday its indirect unit, PennyMac Corp., plans to offer $200 million of exchangeable senior notes due 2029 in a private placement.

The initial buyers will have a 13-day option to purchase up to an additional $30 million of notes from the unit, the company said.

The company said it intends to use the net proceeds from the offering to fund its business and investment activities.