Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
SELECTIVE INSURANCE GROUP INC incurred revolving credit of $50 million with Wells Fargo Bank, National Association at base rate or the term Secured Overnight Financing Rate (SOFR) for one-, three-, maturing November 7, 2025.
- Instrument
- revolving credit
- Principal
- $50 million
- Counterparty
- Wells Fargo Bank, National Association
- Rate
- base rate or the term Secured Overnight Financing Rate (SOFR) for one-, three-,
- Maturity
- November 7, 2025
- Event
- incurrence
Exact text from the filing
On November 7, 2022, Selective Insurance Group, Inc. (“Selective”) entered into that certain Credit Agreement (the “Agreement”), by and among Selective, the lenders named therein (collectively, the “Lenders”), and Wells Fargo Bank, National Association, as administrative agent (the “Administrative Agent”). Under the Agreement, the Lenders have agreed to provide Selective with a $50 million revolving credit facility, which can be increased to $125 million with the consent of the Lenders.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
SELECTIVE INSURANCE GROUP INC entered into Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, and the lenders named therein valued at $50 million revolving credit facility, can be increased to $125 million, matures November 7, 2025 (effective 2022-11-07).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Wells Fargo Bank, National Association, as administrative agent, and the lenders named therein
- Value
- $50 million revolving credit facility, can be increased to $125 million, matures November 7, 2025
- Effective
- 2022-11-07
Exact text from the filing
On November 7, 2022, Selective Insurance Group, Inc. (“Selective”) entered into that certain Credit Agreement (the “Agreement”), by and among Selective, the lenders named therein (collectively, the “Lenders”), and Wells Fargo Bank, National Association, as administrative agent (the “Administrative Agent”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
SELECTIVE INSURANCE GROUP INC terminated Prior Credit Agreement with Bank of Montreal, Chicago Branch, as administrative agent, and the prior lenders valued at Terminated early without penalty; originally dated December 20, 2019, scheduled to mature December 2 (effective 2022-11-07).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Bank of Montreal, Chicago Branch, as administrative agent, and the prior lenders
- Value
- Terminated early without penalty; originally dated December 20, 2019, scheduled to mature December 2
- Effective
- 2022-11-07
Exact text from the filing
Selective exercised its early termination rights and terminated the Prior Credit Agreement, with such termination effective as of November 7, 2022.
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