HCI Group extends Fifth Third revolving credit facility to Dec 2024; max leverage covenant set

HCI Group, Inc.

Term extended one year to December 31, 2024; maximum line unchanged at $50M.
Maximum Debt-to-Capital Ratio set at 67.5% through Dec 31, 2023, then 65% thereafter.
Borrowing rate based on SOFR plus 10 bps adjustment; Prior Credit Agreement amended.
Other terms from prior agreement remain largely unchanged.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HCI Group, Inc. amended Amended and Restated Credit Agreement with Fifth Third Bank (effective 2023-06-02).

Action: amendment
Agreement: credit facility
Counterparty: Fifth Third Bank
Effective: 2023-06-02

Exact text from the filing

On June 2, 2023, we executed an Amended and Restated Credit Agreement to extend the term of our revolving credit facility from Fifth Third Bank for one additional year until December 31, 2024.

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HCI Group, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-027024

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