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NMI Holdings Amends and Extends Revolving Credit Facility, Expanding Lender Group and Increasing Capacity to $100 Million
March 23, 2020
Source: Yahoo Finance
NMI Holdings, Inc., (NMIH), the parent of National Mortgage Insurance Corporation (National MI), announced today that it has amended its senior secured revolving credit facility, expanding the lender group, increasing the revolving capacity to $100 million, extending the maturity from May 24, 2021 to February 22, 2023, and reducing the interest cost related to both undrawn commitments and drawn borrowings under the facility. No amounts have been borrowed under the facility.
J.P. Morgan, RBC Capital Markets and SunTrust Robinson Humphrey served as joint lead arrangers on the transaction with additional commitments made by Citibank and Deutsche Bank.
The amendments to the credit agreement governing the revolving facility, which will be filed with the Securities and Exchange Commission as an exhibit to a Current Report on Form 8-K, include certain conditions customary for agreements of those types.
About NMI Holdings
NMI Holdings, Inc. (NMIH) is the parent company of National Mortgage Insurance Corporation (National MI), a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower's default. To learn more, please visit www.nationalmi.com.
Investor Contact
John M. Swenson
Vice President, Investor Relations and Treasury
john.swenson@nationalmi.com
(510) 788-8417
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