---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-018590"
form_type: "8-K"
ticker: "KFS"
cik: "0001072627"
company_name: "KINGSWAY FINANCIAL SERVICES INC"
filed_at: "2024-05-29T23:59:59+00:00"
generated_at: "2026-06-01T07:35:36.795239+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Kingsway Financial enters $15M term loan and $6M delayed draw facility with CIBC, matures 2029

## Summary
- New $15M 2024 Term Loan used to repay existing Term Loan, Delayed Draw Term Loan, and Revolving Note.
- New $6M 2024 Delayed Draw Term Loan available in up to three advances (min $2M each) until May 24, 2026.
- Both loans mature May 24, 2029; 2024 Term Loan requires quarterly principal payments of $562,500.
- Financial covenants amended: Fixed Charge Coverage Ratio reduced to 1.20x; Senior Cash Flow Leverage Ratio steps down from 2.75x to 1.75x over time.
- Proceeds may be used for parent distributions within 90 days of funding, subject to pro forma compliance.

## SEC filing metadata
- accession: 0001437749-24-018590
- form_type: 8-K
- ticker: KFS
- cik: 0001072627
- company_name: KINGSWAY FINANCIAL SERVICES INC
- filed_at: 2024-05-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1072627/000143774924018590/0001437749-24-018590-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1072627/000143774924018590/kfs20240528_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-018590
- JSON: https://secwatch.observer/filing/0001437749-24-018590.json
- Plain text: https://secwatch.observer/filing/0001437749-24-018590.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.