debt
confidence high
sentiment neutral
materiality 0.50
Essent Group amends credit agreement to $825M; revolver increased to $400M
Essent Group Ltd.
- Committed capacity increased to $825M from $625M; $100M new term loan added.
- Revolving credit facility raised from $300M to $400M; maturity December 10, 2026.
- Interest rate at closing ~1.79% based on 1M Term SOFR plus applicable margin.
- Up to $175M uncommitted incremental term loan/revolving facility available.
- Obligations secured by certain assets excluding insurance subsidiaries.