ACT - Enact Holdings Inc. Prices $750 Million of Senior Notes | Benzinga
RALEIGH, N.C., May 22, 2024 (GLOBE NEWSWIRE) -- Enact Holdings, Inc. (NASDAQ:ACT) (Enact), today announced that it has priced a registered public offering of $750 million of its 6.25% Senior Notes due 2029 (the "2029 Notes"). The expected settlement date for the offering is May 28, 2024, subject to the satisfaction of customary closing conditions.
The 2029 Notes will pay interest semi-annually on May 28 and November 28, beginning November 28, 2024, at a rate of 6.250% per year, maturing May 28, 2029.
Enact intends to use the net proceeds of the offering, together with other legally available funds, to redeem its 6.500% Senior Notes due August 2025 (the "2025 Notes") in accordance with the terms of the related indenture. This press release does not constitute a notice of redemption with respect to, or an offer to purchase, any securities.
J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering.
This press release is neither an offer to sell nor a solicitation of an offer to buy any of the 2025 Notes or 2029 Notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
The 2029 Notes are being offered pursuant to an automatic shelf registration statement relating to the 2029 Notes that ...