Enact Holdings, Inc. (ACT): debt financing — Enact Holdings enters $435M revolving credit facility, replacing $200M prior facility

Enact Holdings, Inc.

New $435M revolver matures Sept 30, 2030; undrawn at closing on Sept 30, 2025.
Replaces prior $200M facility dated June 30, 2022, which was terminated same day.
Financial covenants: min consolidated net worth $3.729B + 50% of positive net income; max debt-to-capital 0.35:1.00.
Includes a $217.5M accordion feature; interest margin based on Senior Unsecured Rating (currently 0.175% commitment fee).
Margin for Term SOFR loans ranges from 1.00% (Level I) to 2.00% (Level VI); ABR margin from 0.00% to 1.00%.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Enact Holdings, Inc. incurred revolving credit of $435 million with JPMorgan Chase Bank, N.A., as Administrative Agent at Term SOFR plus 0.10% plus an applicable margin maturing September 30, 2030.

Instrument: revolving credit
Principal: $435 million
Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent
Rate: Term SOFR plus 0.10% plus an applicable margin
Maturity: September 30, 2030
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a revolving credit facility in the initial aggregate principal amount of $435 million

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Enact Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001823529-25-000219

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