- An increase in the revolving credit facility from $200 million to $250 million and an extension of its maturity from April 2019 to May 2021.
- The issuance of $125 million four-year, non-amortizing term loan maturing in May 2021 (concurrently with the revolving credit facility), the proceeds of which were used at closing to pay down borrowings previously drawn under the revolving credit facility.
- An option to increase the Credit Facility to $450 million during its term.
About the CompanyEssent Group Ltd. (NYSE: ESNT) is a Bermuda-based holding company (collectively with its subsidiaries, "Essent") which, through its wholly-owned subsidiary Essent Guaranty, Inc., offers private mortgage insurance for single-family mortgage loans in the United States. Essent provides private capital to mitigate mortgage credit risk, allowing lenders to make additional mortgage financing available to prospective homeowners. Headquartered in Radnor, Pennsylvania, Essent Guaranty, Inc. is licensed to write mortgage insurance in all 50 states and the District of Columbia, and is approved by Fannie Mae and Freddie Mac. Essent also offers mortgage-related insurance, reinsurance and advisory services through its Bermuda-based subsidiary, Essent Reinsurance Ltd. Additional information regarding Essent may be found at www.essentgroup.com and www.essent.us. Source: Essent Group Ltd.