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White Mountains’ HG Global closes new $150 million credit facility
Chicago, March 31 – White Mountains Insurance Group Ltd. announced that HG Global Ltd. closed on a new $150 million, 10-year term loan credit facility (Kroll: BBB) with Hudson Structured Capital Management Ltd. and Security Benefit Life Insurance Co.
Proceeds from the loan are expected to be received by May 31, according to a press release.
A portion of the proceeds will be used to pay a $120 million dividend to White Mountains Insurance Group and other equity holders of HG.
The facility does not impact the reinsurance obligations of HG Re Ltd.
White Mountains Insurance is a Bermuda-domiciled financial services holding company.
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