Latham & Watkins Advises on Pagaya’s US$500 Million Senior Unsecured Notes Offering

Pagaya Technologies LTD. (NASDAQ: PGY) (Pagaya), a global technology company delivering AI-driven product solutions for the financial ecosystem, has announced that its wholly owned subsidiary, Pagaya US Holding Company LLC (Pagaya US), priced the offering of US$500 million aggregate principal amount of 8.875% senior unsecured notes due 2030 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933.The issuance and sale of the notes is scheduled to settle on June 28, 2025, subject to customary closing conditions.

Latham & Watkins LLP represents the initial purchasers in the offering with a capital markets team led by partners Stelios Saffos, Greg Rodgers, Andrew Baker, and Brittany Ruiz, with associate Eric Finkelberg, with assistance from Harris Scott. Advice was also provided on benefits and compensation matters by partner Bradd Williamson and counsel Leah Segall; on tax matters by partner Elena Romanova, with associate Shiyi Parsons; on data privacy matters by partner Heather Deixler, with associate Kiara Vaughn; on intellectual property matters by counsel Carrie Girgenti, with associate Ece Gonulal; and on investment funds regulatory matters by partner Laura Ferrell, with associates Tim Cummings and Jennifer Tian.