secwatch.observer — SEC 8-K summary
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Issuer:     GREENLIGHT CAPITAL RE, LTD. (GLRE)
CIK:        0001385613
Form:       8-K
Filed at:   2024-04-18T23:59:59+00:00
Accession:  0001385613-24-000037
Event type: other
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.02
LLM model:  deepseek-v4-flash:cloud@v2

Greenlight Re receives notice of $275M letter of credit facility termination by Citi, effective Aug 20, 2024
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- Citi terminated commitment under $275M letter of credit facility; effective Aug 20, 2024, after 120-day notice.
- Citi will provide $275M facility on an uncommitted basis for the foreseeable future after termination.
- Greenlight Re already has $200M committed letter of credit facility with CIBC Bank USA from Dec 2023.
- Company does not intend to replace the facility immediately due to existing alternatives.
- Termination is without cause, permitted under either party's right with 120-day notice.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1385613/000138561324000037/0001385613-24-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1385613/000138561324000037/glre-20240412.htm
  HTML page:      https://secwatch.observer/filing/0001385613-24-000037

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