NMIH - NMI Holdings prices $425 million senior unsecured notes offering
2024-05-07 17:42:22 ET
- NMI Holdings ( NASDAQ: NMIH ) on Tuesday announced that it priced its public offering of $425 million aggregate principal amount of senior unsecured notes.
- The offering is expected to close on May 21, 2024, subject to customary closing conditions.
- The notes will pay interest semiannually at a rate of 6.0% per year and will mature on August 15, 2029.
- The company intends to use net proceeds to redeem its existing $400 million of 7.375% senior secured notes due June 2025, with the balance to be used for general corporate purposes.
- The company also announced that it entered into a new $250 million five-year unsecured revolving credit facility with commitments from a syndicate of banks led by RBC Capital Markets, among others.
- NMIH --7.72% after hours to $31.06
- Source: Press Release