07:29 AM EDT, 07/11/2024 (MT Newswires) -- Essent Group ( ESNT ) said Thursday it completed a $500 million offering of 6.250% notes due 2029, raising approximately $495.3 million.

About $425 of the net proceeds were used to repay borrowings outstanding under the term loan portion of a prior credit facility, while the remainder will be used for general corporate purposes and working capital, the company said.

Essent Group ( ESNT ) said it also entered a five-year $500 million unsecured revolving credit facility, which replaces its previous $400 million revolving credit facility.