Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.7
KINGSWAY FINANCIAL SERVICES INC amended credit facility with CIBC Bank USA.
- Instrument
- credit facility
- Counterparty
- CIBC Bank USA
- Event
- amendment
Exact text from the filing
The Amendment also modifies the Senior Cash Flow Leverage Ratio (as such term is defined in the Amendment) to increase the maximum permissible Senior Cash Flow Leverage Ratio of the Loan Parties for certain periods.
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Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
KINGSWAY FINANCIAL SERVICES INC incurred term loan of up to Ten Million Dollars ($10,000,000) with CIBC Bank USA maturing December 1, 2025.
- Instrument
- term loan
- Principal
- up to Ten Million Dollars ($10,000,000)
- Counterparty
- CIBC Bank USA
- Maturity
- December 1, 2025
- Event
- incurrence
Exact text from the filing
The Amendment provides for an additional delayed draw term loan in the principal amount of up to Ten Million Dollars ($10,000,000) (the “DDTL”), with a maturity date of December 1, 2025.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
KINGSWAY FINANCIAL SERVICES INC amended Second Amendment to Loan and Security Agreement with CIBC Bank USA valued at Ten Million Dollars ($10,000,000) (effective 2023-02-28).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- CIBC Bank USA
- Value
- Ten Million Dollars ($10,000,000)
- Effective
- 2023-02-28
Exact text from the filing
On February 28, 2023, certain subsidiaries (such subsidiaries, collectively the “Loan Parties”) of Kingsway Financial Services, Inc. (the “Company”) entered into the Second Amendment to Loan and Security Agreement (the “Amendment”) with CIBC Bank USA as lender (“Lender”). The Amendment provides for an additional delayed draw term loan in the principal amount of up to Ten Million Dollars ($10,000,000) (the “DDTL”), with a maturity date of December 1, 2025.
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