Essent Group entered into a three-year, $200 million revolving credit facility. JPMorgan Chase served as administrative agent.

JPMorgan and Merrill Lynch, Pierce, Fenner & Smith acted as joint lead arrangers and joint bookrunners.

Borrowings under the facility may be used for working capital and general corporate purposes, including, without limitation, capital contributions to Essent’s insurance and reinsurance subsidiaries.

“This credit facility enhances our financial flexibility as we continue to grow our company,” said Mark Casale, chairman and CEO. “Furthermore, we are very pleased with the terms of the credit facility, which we believe are reflective of Essent’s strong financial profile.”

Borrowings under the Facility will accrue interest at a floating rate tied to a standard short-term borrowing index, selected at the company’s option, plus an applicable margin.

Essent Group is a Bermuda-based holding company which, through its wholly-owned subsidiary Essent Guaranty, offers private mortgage insurance for single-family mortgage loans in the U.S.