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Platinum Underwriters lifts amended credit facility to $125 million
By Toni Weeks
San Luis Obispo, Calif., July 3 - Platinum Underwriters Holdings, Ltd. subsidiary Platinum Underwriters Bermuda, Ltd. amended its facility agreement dated July 31, 2012 with National Australia Bank Ltd. to increase total commitments to $125 million from $75 million, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
ING BANK NV provided the additional $50 million of commitments, which was the increase bank under the original agreement. National Australia Bank was the arranger, agent and security agent for both the original and amended facilities.
Other terms of the agreement were not changed in the amendment, according to the 8-K.
Platinum Underwriters is a Pembroke, Bermuda-based reinsurance company.
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