GREENLIGHT CAPITAL RE, LTD. (GLRE): debt financing — Greenlight Capital Re enters $300M LC facilities; GC Sigmon rescinds resignation

GREENLIGHT CAPITAL RE, LTD.

Entered $300M committed LC facilities with CIBC: $50M for GRIL, $250M for Greenlight Re.
LC facilities mature December 22, 2027, with automatic annual extensions.
David Sigmon rescinded resignation, continues as General Counsel, CCO, and Corporate Secretary.
Obligations secured by first-priority lien on cash collateral accounts equal to face amount of outstanding LCs.

item 1.01 item 2.03 item 5.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GREENLIGHT CAPITAL RE, LTD. incurred debt of $300.0 million with CIBC Bank USA maturing December 22, 2027.

Principal: $300.0 million
Counterparty: CIBC Bank USA
Maturity: December 22, 2027
Event: incurrence

Exact text from the filing

(the “ Company ”), entered into a Master Letter of Credit Agreement (the “ GRIL LC Agreement ”) with CIBC Bank USA (“ CIBC ”), which provides for a committed letter of credit facility (the “ GRIL LC Facility ”) and (ii) Greenlight Reinsurance, Ltd.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GREENLIGHT CAPITAL RE, LTD. amended Greenlight Re LC Agreement with CIBC Bank USA valued at Amended and restated letter of credit facility with an initial commitment of $250,000,000 (effective 2026-04-01).

Action: amendment
Agreement: credit facility
Counterparty: CIBC Bank USA
Value: Amended and restated letter of credit facility with an initial commitment of $250,000,000
Effective: 2026-04-01

Exact text from the filing

and (ii) Greenlight Reinsurance, Ltd. (“ Greenlight Re ”, and together with GRIL, the “ LC Applicants ”, and each, an “ LC Applicant ”), a direct subsidiary of the Company, entered into an Amended and Restated Master Letter of Credit Agreement with CIBC (the “ Greenlight Re LC Agreement ”), which provides for a committed letter of credit facility (the “ Greenlight Re LC Facility ”, and together with the GRIL LC Facility, the “ LC Facilities ” and each, an “ LC Facility ”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GREENLIGHT CAPITAL RE, LTD. entered into GRIL LC Agreement with CIBC Bank USA valued at Committed letter of credit facility with an initial commitment of $50,000,000 (effective 2026-04-01).

Action: entry
Agreement: credit facility
Counterparty: CIBC Bank USA
Value: Committed letter of credit facility with an initial commitment of $50,000,000
Effective: 2026-04-01

Exact text from the filing

On April 1, 2026 (the “ Closing Date ”), (i) Greenlight Reinsurance Ireland, Designated Activity Company (“ GRIL ”), a direct subsidiary of Greenlight Capital Re, Ltd. (the “ Company ”), entered into a Master Letter of Credit Agreement (the “ GRIL LC Agreement ”) with CIBC Bank USA (“ CIBC ”), which provides for a committed letter of credit facility (the “ GRIL LC Facility ”)

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GREENLIGHT CAPITAL RE, LTD. filing history →

Source: SEC EDGAR

accession 0001385613-26-000044

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