Pagaya Closes 5-Year $280M Credit Facility With BlackRock, UBS, JPMorgan Chase And Other Lenders
Portfolio Pulse from Benzinga Newsdesk
Pagaya Technologies LTD. (NASDAQ:PGY), a global technology company specializing in AI-driven financial solutions, has secured a $280M credit facility from top financial institutions including BlackRock, UBS O'Connor, JPMorgan Chase, Valley Bank, and Israel Discount Bank. This facility, aimed at supporting Pagaya's growth and extending its debt maturity to 2029, underscores the confidence these institutions have in Pagaya's business model and financial strategy. The company has also reported strong financial performance for 2023, with Network Volume exceeding $8.2 billion and Adjusted EBITDA over $75 million.
February 07, 2024 | 1:36 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Pagaya Technologies LTD. has successfully closed a $280M credit facility with major financial institutions, indicating strong market confidence and support for its growth strategy. The company also pre-announced impressive 2023 financial performance, suggesting a positive outlook.
The closing of a significant credit facility with renowned financial institutions and the pre-announcement of strong financial performance for 2023 are clear indicators of Pagaya's robust financial health and growth trajectory. These developments are likely to instill investor confidence and potentially drive up the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100