secwatch.observer — SEC 8-K summary
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Issuer:     Kinsale Capital Group, Inc. (KNSL)
CIK:        0001669162
Form:       8-K
Filed at:   2022-07-22T23:59:59+00:00
Accession:  0001140361-22-026753
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kinsale Capital completes $125M note issuance to PGIM, enters $100M credit facility
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- Issued $125M 5.15% Series A Senior Notes due July 22, 2034 to PGIM and affiliates.
- Private shelf facility allows up to $150M of Notes outstanding; proceeds used for surplus at insurance subsidiary and general corporate purposes.
- New $100M senior unsecured revolving credit facility with JPMorgan as administrative agent and Truist as syndication agent.
- Financial covenants include minimum net worth, debt-to-capital ratio ≤35%, and A.M. Best rating ≥A- for regulated insurance subsidiaries.
- Note purchase agreement includes customary events of default and affirmative/negative covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1669162/000114036122026753/0001140361-22-026753-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1669162/000114036122026753/brhc10039842_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-026753

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