Greenlight Reinsurance ups letter-of-credit facility to $100 million

By Marisa Wong

Madison, Wis., June 4 – Greenlight Reinsurance, Ltd. amended its amended and restated letter-of-credit agreement with Butterfield Bank (Cayman) Ltd. on June 1 to increase the facility limit to $100 million from $60 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also updates the facility’s fees.

The facility will be available until June 30, 2016 and will be extended annually by 364 days, unless either party delivers a written notice of cancellation 90 days before the then effective termination date.

The amendment does not affect any other terms or conditions in the credit agreement, the filing noted.

Greenlight entered into the original letter-of-credit agreement on June 17, 2010.

The property and casualty reinsurance company is based in Grand Cayman, Cayman Islands.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.