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HomeAIPagaya secures five-year $280m credit facility led by BlackRock

Pagaya secures five-year $280m credit facility led by BlackRock

Date:

  • Fintech firm Pagaya Technologies has secured a $280 million credit facility led by BlackRock, with participation from Israel Discount Bank, UBS O’Connor, JP Morgan Chase, and Valley Bank.
  • The facility comprises a $255 million term loan and a $25 million revolver, extending Pagaya’s corporate debt maturity to 2029.
  • The funds will support the company’s growth, fuel its services powered by machine learning and AI in consumer credit and residential real estate, fund new product investments, and pay off outstanding borrowings from previous facilities.
  • Last year, Pagaya acquired proptech firm Darwin Homes to enhance its real estate platform.

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