secwatch.observer — SEC 8-K summary
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Issuer:     GREENLIGHT CAPITAL RE, LTD. (GLRE)
CIK:        0001385613
Form:       8-K
Filed at:   2024-12-20T23:59:59+00:00
Accession:  0001385613-24-000125
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greenlight Capital Re secures $100M HSBC and $275M Citibank uncommitted LOCs
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- Greenlight Reinsurance entered a $100M uncommitted LOC with HSBC, secured by cash collateral at HSBC Continental Europe.
- Amended existing Citibank facility to a $275M uncommitted LOC, replacing the prior committed facility that expired Aug 2024.
- Both facilities are uncommitted; HSBC and Citibank may terminate on notice; outstanding letters of credit survive termination.
- Proceeds support continued growth of Greenlight's reinsurance business.
- Obligations under both facilities are secured by first-priority liens on cash collateral accounts.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1385613/000138561324000125/0001385613-24-000125-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1385613/000138561324000125/glre-20241217.htm
  HTML page:      https://secwatch.observer/filing/0001385613-24-000125

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