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NMI Holdings, Inc. Announces the Commencement of $300 Million Senior Secured Notes Offering
EMERYVILLE, Calif., June 03, 2020 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. (Nasdaq: NMIH) (the “Company”) today announced that it commenced an offering through
About this update from Nmi Holdings Inc
[{"type":"text","content":"EMERYVILLE, Calif., June 03, 2020 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. (Nasdaq: NMIH) (the “Company”) today announced that it commenced an offering through a private placement of $300,000,000 aggregate principal amount of senior secured notes due 2025 (the “Notes”). Net proceeds from the Notes offering are intended to be used to repay the Company’s existing $147 million term loan and for general corporate purposes, including potential capital contributions to support the growth of new business production and operations of our subsidiaries.\n The Notes are being offered in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and to non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering memorandum. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. About NMI Holdings, Inc.NMI Holdings, Inc. (NASDAQ: 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. Cautionary Note Regarding Forward-Looking StatementsCertain statements contained in this press release or any other written or oral statements made by or on behalf of the Company in connection therewith may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the \"Securities Act\"), Section 21E of th...