Heritage Insurance Holdings enters into amended credit agreement increasing facilities to $200 million

Heritage Insurance Holdings, Inc.

• Senior secured credit facilities increased to $200M aggregate principal from $150M, including $50M revolving credit facility, $75M term loan, and $75M delayed draw term loan.
• Revolving facility maturity extended to July 2030 and term loan maturity to July 2030, with reduced interest margins to 2.50%-3.00% for SOFR loans.
• Proceeds from the new term loan, along with cash on hand, were used to repay approximately $78 million outstanding under the prior credit agreement.
• Amended covenants provide more flexibility, including ability to sell certain real estate assets in Clearwater, Florida.