secwatch.observer — SEC 8-K summary
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Issuer:     Enact Holdings, Inc. (ACT)
CIK:        0001823529
Form:       8-K
Filed at:   2022-07-07T23:59:59+00:00
Accession:  0001823529-22-000158
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Enact Holdings enters $200M unsecured revolving credit facility; undrawn at close
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- $200M revolving commitment, with option to increase by up to $100M on an uncommitted basis.
- Unsecured facility matures in 5 years (June 2027) unless 2025 notes not refinanced, then May 2025.
- Interest margins: 2.00% for SOFR loans, 1.00% for base rate; commitment fee 0.375% based on current debt ratings.
- Financial covenants include min net worth (72.5% of closing net worth +50% of net income), max debt-to-cap 0.35:1, min liquidity $25M.
- Facility undrawn at signing; proceeds for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823529/000182352922000158/0001823529-22-000158-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823529/000182352922000158/act-20220630.htm
  HTML page:      https://secwatch.observer/filing/0001823529-22-000158

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