Essent Group (ESNT) Prices $500M Notes Offering

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Go back to Essent Group (ESNT) Prices $500M Notes Offering

Essent Group Ltd. Prices $500 Million Senior Unsecured Notes Offering

June 26, 2024 6:24 PM EDT

HAMILTON, Bermuda--(BUSINESS WIRE)-- Essent Group Ltd. (NYSE: ESNT) (the Company) today announced that it has priced its public offering (the Offering) of $500 million aggregate principal amount of senior unsecured notes (the Notes). The Offering is expected to close on July 1, 2024, subject to customary closing conditions.

The Notes will pay interest semiannually at a rate of 6.250% per year and will mature on July 1, 2029. The Company intends to use approximately $425 million of the net proceeds of the Offering to repay all of the term borrowings outstanding under the term loan portion of its existing credit... More