HCC extends credit agreement to 2019, ups revolver to $825 million

By Toni Weeks

San Luis Obispo, Calif., May 1 - HCC Insurance Holdings, Inc. amended its loan agreement on April 30 with Wells Fargo Bank, NA as administrative agent, extending the maturity of the agreement to April 30, 2019, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the size of the revolving facility under the credit agreement to $825 million and creates a letter-of-credit facility with a sublimit of $400 million. The size of the optional increase under the agreement was increased to $175 million.

Barclays Bank plc and Bank of America, NA are co-syndication agents, and JPMorgan Chase Bank, NA and Royal Bank of Scotland plc are co-documentation agents.

The specialty insurance group is based in Houston.

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