secwatch.observer — SEC 8-K summary
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Issuer:     Essent Group Ltd. (ESNT)
CIK:        0001448893
Form:       8-K
Filed at:   2024-06-26T23:59:59+00:00
Accession:  0001104659-24-075004
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Essent Group enters $500M unsecured revolving credit facility, replacing $400M secured facility
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- Five-year unsecured revolving credit facility of $500 million, replacing $400M secured facility.
- Also provides up to $250 million in uncommitted incremental revolving credit at company's option.
- Closing conditioned on an underwritten public offering of senior notes and repayment of existing term loans.
- Covenants include max debt-to-capitalization ratio of 30%, compliance with PMIERs, minimum net worth.
- Borrowings used for working capital and general corporate purposes; interest at floating rate plus margin.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1448893/000110465924075004/0001104659-24-075004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1448893/000110465924075004/tm2418166d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-075004

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