secwatch.observer — SEC 8-K summary
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Issuer:     GREENLIGHT CAPITAL RE, LTD. (GLRE)
CIK:        0001385613
Form:       8-K
Filed at:   2023-06-22T23:59:59+00:00
Accession:  0001385613-23-000074
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greenlight Capital Re enters $75M term loan facility; refinances convertible notes due Aug 2023
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- Delayed draw term loan of $75M; matures Aug 1, 2026; interest at Term SOFR + 3.50% p.a.
- Proceeds to repay outstanding convertible notes due Aug 1, 2023; balance for general corporate purposes.
- Financial covenants: net debt to cap & surplus ≤ 17.5%; min cap & surplus to PCR ratios of 137% and 105%.
- Collateralized by $10M cash account; guaranteed by subsidiaries except regulated insurance entities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1385613/000138561323000074/0001385613-23-000074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1385613/000138561323000074/glre-20230616.htm
  HTML page:      https://secwatch.observer/filing/0001385613-23-000074

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