trending Market Intelligence /marketintelligence/en/news-insights/trending/fsxryqxlz0tcedagvydy-q2 content esgSubNav
In This List

NMI Holdings refinances $150M term loan, enters $85M credit facility

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


NMI Holdings refinances $150M term loan, enters $85M credit facility

NMI Holdings Inc. completed the refinancing of its existing senior secured term loan with a new five-year $150 million senior secured term loan.

The term loan will bear interest at a per annum rate for London Interbank Offered Rate based loans equal to LIBOR plus 4.75%.

The company also entered into a three-year, $85 million senior secured revolving credit facility.

Borrowings under the revolving credit facility may be used for general corporate purposes, including capital contributions to the company's insurance subsidiaries.

J.P. Morgan, RBC Capital Markets and SunTrust Robinson Humphrey Inc. served as joint lead arrangers and joint bookrunners for the transactions.