secwatch.observer — SEC 8-K summary
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Issuer:     Skyward Specialty Insurance Group, Inc. (SKWD)
CIK:        0001519449
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0001519449-23-000015
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Skyward Specialty enters $150M credit facility with Truist, replaces prior bank debt
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- $150M revolving credit facility; up to $30M for letters of credit; accordion feature allows $50M increase to $200M.
- Interest: SOFR + 150-190 bps or base rate + 50-90 bps; maturity March 29, 2028.
- Prior Prosperity Bank credit agreement terminated; all outstanding amounts repaid on March 29, 2023.
- Unsecured facility guaranteed by non-insurance subsidiaries; covenants include minimum net worth, debt-to-cap ratio, A.M. Best rating, minimum liquidity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1519449/000151944923000015/0001519449-23-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1519449/000151944923000015/skwd-20230329.htm
  HTML page:      https://secwatch.observer/filing/0001519449-23-000015

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer