Hagerty enters $375M unsecured revolving credit facility, replaces prior $50.3M debt

Hagerty, Inc.

Entered $375M senior unsecured revolving credit facility with JPMorgan as agent; five-year term expires March 2025.
Facility includes $175M LC sublimit, $100M foreign currency sublimit, and $75M accordion feature.
Proceeds used to repay $50.3M outstanding under prior secured credit agreement, which was terminated.
Interest based on Term SOFR plus margin (net leverage pricing grid); financial covenants: net leverage ≤3.25x and fixed charge coverage.
Accordion can be increased unlimited if net leverage below 3.25x; uncommitted accordion of $75M also available.

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