debt
confidence high
sentiment positive
materiality 0.60
Enact Holdings issues $750M of 6.250% Senior Notes due 2029, to redeem $750M of 2025 notes
Enact Holdings, Inc.
- Issued $750M of 6.250% Senior Notes due 2029 under an underwriting agreement with J.P. Morgan, Citigroup, Goldman Sachs.
- Net proceeds of ~$742.3M; intends to redeem all $750M of 6.500% Senior Notes due 2025 on June 3, 2024.
- Redemption notice for the 2025 Notes delivered to trustee on May 23, 2024; redemption price includes Applicable Premium.
- Notes pay interest semi-annually at 6.250%, mature May 28, 2029; callable at make-whole plus 30 bps before Par Call Date.