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NMI Holdings, Inc. Amends and Extends Revolving Credit Facility, Expanding Lender Group and Increasing Capacity to $250 Million
EMERYVILLE, Calif., Nov. 30, 2021 (GLOBE NEWSWIRE) -- NMI Holdings, Inc., (Nasdaq: NMIH), the parent of National Mortgage Insurance Corporation (National MI),
About this update from Nmi Holdings Inc
[{"type":"text","content":"EMERYVILLE, Calif., Nov. 30, 2021 (GLOBE NEWSWIRE) -- NMI Holdings, Inc., (Nasdaq: 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 $250 million, and extending the maturity from February 22, 2023 to November 10, 2025. No amounts have been borrowed under the facility. “We’re pleased to have completed the amendment and extension of our revolving credit facility, and to have secured long-term support from an expanded group of banking partners,” said Adam Pollitzer, Executive Vice President and Chief Financial Officer. “The increased size and extended maturity of the facility further enhances our already strong capital and liquidity position, and provides National MI with increased financial flexibility.” J.P. Morgan Chase Bank, N.A., Citibank, N.A., RBC Capital Markets and Truist Securities, Inc. served as joint lead arrangers on the transaction, with additional commitments made by Bank of Montreal, Goldman Sachs Bank USA and U.S. Bank National Association. 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 covenants and conditions customary for agreements of this type. Cautionary Note Regarding Forward Looking StatementsThis press release contains forward looking statement within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements about future, not past, events and involve certain important risks and uncertainties, any of which could cause our actual results to differ materially from those expressed in our forward-looking statements. Forward-looking statements in this press release include statements regarding the company’s financing arrangements. Any or all of our forward-looking statements in this press release may turn out to be inaccurate, and you are cautioned not to place undue reliance on such statements. More information about the risks, uncertainties and assumptions affecting th...