NMI Holdings closes $425M offering of 6.000% Senior Notes due 2029; will redeem 7.375% 2025 Notes

NMI Holdings, Inc.

Issued $425M aggregate principal of 6.000% Senior Notes due Aug 15, 2029; net proceeds ~$414.3M after underwriting discount.
Proceeds used to satisfy and redeem all outstanding 7.375% Senior Secured Notes due 2025 and for general corporate purposes.
New notes rank unsecured and unsubordinated; effectively subordinated to secured debt and structurally subordinated to subsidiary liabilities.
Terminated 2021 Revolving Credit Facility; entered new Credit Agreement with Royal Bank of Canada as agent, maturing in 5 years.

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