James River Group amends credit facility; extends maturity to 2026, increases rates

James River Group Holdings, Inc.

Maturity extended from Nov 8, 2024 to July 7, 2026.
Interest rate and letter of credit fees increased under amended terms.
$102.5M secured LC facility and $212.5M unsecured revolver unchanged.
Accordion feature remains at $100M aggregate increase capacity.
Financial covenants (leverage ≤0.35:1, minimum net worth) substantially unchanged.

Key facts

Extracted from this filing and checked against the source text.

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

James River Group Holdings, Inc. amended Third Amended and Restated Credit Agreement with KeyBank National Association valued at $102.5 million secured revolving credit facility and $212.5 million unsecured revolving credit facil (effective 2023-07-07).

Action: amendment
Agreement: credit facility
Counterparty: KeyBank National Association
Value: $102.5 million secured revolving credit facility and $212.5 million unsecured revolving credit facil
Effective: 2023-07-07

Exact text from the filing

On July 7, 2023, James River Group Holdings, Ltd. (the “Company”) and JRG Reinsurance Company, Ltd. (“JRG Re”), a wholly-owned subsidiary of the Company, entered into a Third Amended and Restated Credit Agreement (the “Third Amended and Restated Credit Agreement”) with KeyBank National Association (“KeyBank”) as Administrative Agent and Letter of Credit Issuer, KeyBank and Truist Securities, Inc. as Joint Book Runners and Joint Lead Arrangers, Truist Bank as Syndication Agent, and the lender parties thereto.

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James River Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001620459-23-000100

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