ATLANTIC AMERICAN CORP (AAME): debt financing — Atlantic American amends credit facility; maturity extended to 2027, net worth covenant set at $64.2M

ATLANTIC AMERICAN CORP

Interest rate on revolving loans changed to Adjusted Term SOFR plus 2.00%.
Maturity of revolving credit facility extended to March 22, 2027.
New consolidated net worth covenant requires at least $64.2 million.
Amendment entered with Truist Bank, effective March 22, 2024.
Other existing terms of the Credit Agreement remain unchanged.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ATLANTIC AMERICAN CORP amended revolving credit with Truist Bank at Adjusted Term SOFR rate plus 2.00% maturing March 22, 2027.

Instrument: revolving credit
Counterparty: Truist Bank
Rate: Adjusted Term SOFR rate plus 2.00%
Maturity: March 22, 2027
Event: amendment

Exact text from the filing

On March 22, 2024, Atlantic American Corporation (the “Company”) entered into a First Amendment (the “Amendment”) to its Revolving Credit Agreement (as amended, the “Credit Agreement”) with Truist Bank as the lender (the “Lender”).

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

ATLANTIC AMERICAN CORP amended First Amendment with Truist Bank (effective 2024-03-22).

Action: amendment
Agreement: credit facility
Counterparty: Truist Bank
Effective: 2024-03-22

Exact text from the filing

On March 22, 2024, Atlantic American Corporation (the “Company”) entered into a First Amendment (the “Amendment”) to its Revolving Credit Agreement (as amended, the “Credit Agreement”) with Truist Bank as the lender (the “Lender”).

View on SEC.gov

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Source: SEC EDGAR

accession 0001140361-24-016920

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