Bermuda-based Platinum Underwriters Holdings, Ltd. announced that it has entered into a three-year $200,000,000 credit agreement with a syndicate of lenders.
“The credit agreement consists of a $100,000,000 senior unsecured credit facility available for revolving borrowings and letters of credit, and a $100,000,000 senior secured credit facility available for letters of credit,” said the bulletin.
“The revolving line of credit will be available for the working capital, liquidity and general corporate requirements of the Company and its subsidiaries,” it continued.
Wachovia Capital Markets, LLC arranged the credit facility, acting as sole lead arranger and bookrunner
Was this article valuable?
Here are more articles you may enjoy.
Royal Bank of Canada Denies Claims of ‘Boys Club’ Culture, Bias Against Women 
Massive Wildfire Liabilities Push Utilities to Use AI to Stop Blazes 
‘Clear Soft Market Conditions’ for Commercial P/C Lines in Q3, Says CIAB 
Lawsuit Alleges Farm Bureau Financial Concealed Fraudulent Activities 
