Southland Holdings refinances $110M term loan to sureties; gets repayment deferral through March 2027

Southland Holdings, Inc.

Paid ~$15.4M to resigning agent (Callodine): $14.4M principal + $1.0M accrued interest and fees.
Sureties (Berkshire, Zurich, Markel) advanced ~$116M under GIAs; repayment not required before March 27, 2027.
Delayed draw term loan commitment terminated; sureties waive quarterly principal and monthly interest payments until maturity.
Company agreed to dispose of idle assets and pursue claim collections to pay down principal before maturity.
Actively working with sureties on amendment to Credit Agreement; no assurances of reaching long-term financing arrangement.

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