Blue Capital Global Reinsurance Fund has announced that it has entered into a credit facility with Endurance Investments Holdings Ltd.(a wholly-owned subsidiary of Endurance Specialty Holdings Ltd. , which holds indirectly 25.1% of the Company’s issued ordinary shares and is the ultimate parent company of the Company’s investment manager). The Credit Facility provides the Company with an unsecured US$20.0m revolving credit facility for working capital and general corporate purposes and expires on 30 September 2018. The new facility replaces a 364-day US$20.0m revolving credit facility which expired on 12 May 2016. Borrowings under the new facility bear interest, set at the time of the borrowing, at a rate equal to the applicable LIBOR rate plus 1.5%.
Blue Capital Global Reinsurance secures new credit facility : BCGR