Today, 𝗣𝗮𝗴𝗮𝘆𝗮, through its subsidiary Pagaya US Holding Company LLC, announced its intention to issue $ 450 million in senior unsecured notes due 2030. Transaction Objectives: Fully repay existing credit facilities Raise $ 75 million to repay secured borrowings This transaction is part of a strategy to optimize the capital structure and reduce the cost of debt. The company just announced very strong preliminary Q2 results: network volume of ~$ 2.6 billion, revenue of approximately $ 326 million, estimated GAAP net income of $ 17 million, and adjusted EBITDA of $ 86 million. PGY shares reacted positively to recent news (earnings and announcements), with a cumulative increase of approximately +35% over the past week. The transaction will help reduce existing debt and refinance on more favorable terms. $PGY