secwatch.observer — SEC 8-K summary
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Issuer:     PROASSURANCE CORP (PRA)
CIK:        0001127703
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001910277-23-000010
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

ProAssurance amends revolver to $250M, adds $125M term loan to refinance Nov 2023 senior notes
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- Revolver extended to April 2028, capacity $250M plus $50M accordion feature.
- New $125M term loan due April 2028, drawn Nov 2023 to refinance maturing senior notes.
- Entered two $125M swap agreements with US Bank to hedge interest rate risk on revolver and term loan.
- Swaps begin Dec 29, 2023, end March 31, 2028; term loan swap amortizes quarterly from June 2024.
- No outstanding borrowings on revolver as of March 31, 2023; facility for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1127703/000191027723000010/0001910277-23-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1127703/000191027723000010/pra-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001910277-23-000010

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