We advised Pagaya on its debut high-yield notes offering

Davis Polk advised Pagaya Technologies Ltd. in connection with a Rule 144A offering by Pagaya US Holding Company LLC, a subsidiary of Pagaya, of $500 million aggregate principal amount of 8.875% senior notes due 2030. The notes are fully and unconditionally guaranteed by Pagaya and certain of its subsidiaries.

Pagaya is a global technology company making life-changing financial products and services available to more people nationwide, as it reshapes the financial services ecosystem. By using machine learning, a vast data network and an AI-driven approach, Pagaya provides consumer credit and other products for its partners, their customers and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy.

The Davis Polk corporate team included partners Hillary A. Coleman and Byron B. Rooney and associates Xi (Brooke) Zheng, Katherine S. Warshauer, David Giordano and Sijia (Scarlett) Huang. Partner Jason Kyrwood and counsel Demian von Poelnitz provided finance advice. Partner Gregory S. Rowland and counsel Sarah E. Kim provided investment management advice. All members of the Davis Polk team are based in the New York office.

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