secwatch.observer — SEC 8-K summary
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Issuer:     GREENLIGHT CAPITAL RE, LTD. (GLRE)
CIK:        0001385613
Form:       8-K
Filed at:   2023-12-27T23:59:59+00:00
Accession:  0001385613-23-000119
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greenlight Re enters $200M letter of credit facility with CIBC Bank; includes $30M revolver
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- $200M LC facility ($30M sublimit for unsecured LCs) with CIBC Bank USA.
- Revolving credit facility of $30M to support unsecured LCs; interest at base rate + 2.50%.
- Term of one year, matures Dec 21, 2024, with automatic one-year extension.
- LC issuance fee 0.25% of face amount; annual fee 0.25% of average daily undrawn amount.
- Facility secured by cash collateral account with minimum balance equal to outstanding LC face amount.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1385613/000138561323000119/0001385613-23-000119-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1385613/000138561323000119/glre-20231222.htm
  HTML page:      https://secwatch.observer/filing/0001385613-23-000119

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