Bowhead Specialty Holdings Inc. (BOW): debt financing — Bowhead Specialty secures $35M revolving credit facility with PNC Bank, maturing Nov 2027

Bowhead Specialty Holdings Inc.

Facility is a $35M senior secured revolving credit agreement; no borrowings made at closing (Nov 26, 2025).
Maturity on earlier of Nov 26, 2027 or 91 days prior to termination of any MGA Agreement.
Interest rate: Term SOFR + 1.75% or Alternate Base Rate + 0.75%; unused commitment fee 0.25% per annum.
Financial covenants include debt cap of 35% of total capitalization, 400% RBC ratio for insurance subs, and minimum net worth of $319M plus 50% of positive net income.
Borrowings secured by first-priority lien on substantially all assets; proceeds for general corporate purposes.

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

Bowhead Specialty Holdings Inc. incurred revolving credit of $35 million with PNC Bank, National Association at Term SOFR plus 1.75% or alternate base rate plus 0.75% maturing November 26, 2027.

Instrument: revolving credit
Principal: $35 million
Counterparty: PNC Bank, National Association
Rate: Term SOFR plus 1.75% or alternate base rate plus 0.75%
Maturity: November 26, 2027
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a senior secured revolving credit facility in the aggregate principal amount of $35 million

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Source: SEC EDGAR

accession 0001628280-25-054482

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