debt
confidence high
sentiment neutral
materiality 0.25
Selective Insurance Group enters new $100M revolving credit facility, replaces $50M prior facility
SELECTIVE INSURANCE GROUP INC
- New $100M revolver matures June 30, 2028; can be increased to $200M with lender consent.
- Prior $50M facility (due Nov 2025) terminated upon effectiveness; no penalties incurred.
- Interest rate indexed to SOFR or base rate plus margin tied to Selective's debt rating.
- Includes financial covenants: minimum consolidated net worth and max debt-to-capitalization ratio.
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