secwatch.observer — SEC 8-K summary
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Issuer:     Heritage Insurance Holdings, Inc. (HRTG)
CIK:        0001598665
Form:       8-K
Filed at:   2021-08-03T23:59:59+00:00
Accession:  0001193125-21-235000
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Heritage Insurance amends credit agreement: revolver raised to $75M, term loan maturity extended to 2026
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- Revolver increased from $50M to $75M; additional $13.75M term loan advance brings total term debt to $70M.
- Term loan maturity extended from Dec 2023 to July 2026; amortization reduced.
- Interest rate margins reduced: LIBOR loans now 2.5%-3.0% (previously 3.25%-3.75%); base rate 1.5%-2.0%.
- Net proceeds used to repay ~$10M revolver balance and for general corporate purposes.
- Negative covenants relaxed, providing more flexibility for the company.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1598665/000119312521235000/0001193125-21-235000-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1598665/000119312521235000/d122540d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-235000

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