Greenlight Capital Re, Ltd. Enters Material Agreement

TL;DR

GLRE signed a big deal, creating new financial obligations.

AI Summary

Greenlight Capital Re, Ltd. entered into a material definitive agreement on September 3, 2025. This agreement also created a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The filing includes financial statements and exhibits related to this event.

Why It Matters

This filing indicates a significant new financial commitment or arrangement for Greenlight Capital Re, Ltd., which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating new financial obligations can introduce financial risks and operational changes for the company.

Key Players & Entities

• GREENLIGHT CAPITAL RE, LTD. (company) — Registrant
• September 3, 2025 (date) — Date of earliest event reported
• September 9, 2025 (date) — Date of report

FAQ

Key Financial Figures

• $50 million — Amended Credit Agreement provides for a $50 million revolving credit facility (the " Revolv
• $59 million — ing Credit Agreement from approximately $59 million to $50 million, which was refinanced pu
• $50 m — ement from approximately $59 million to $50 million, which was refinanced pursuant to
• $10 million — account with a minimum cash balance of $10 million which is held with CIBC. The Amended

Filing Documents

• glre-20250903.htm (8-K) — 38KB
• 0001385613-25-000103.txt ( ) — 152KB
• glre-20250903.xsd (EX-101.SCH) — 2KB
• glre-20250903_lab.xml (EX-101.LAB) — 21KB
• glre-20250903_pre.xml (EX-101.PRE) — 12KB
• glre-20250903_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement 1. CIBC Revolving Credit Facility On September 3, 2025, Greenlight Capital Re, Ltd. (the " Company ") entered into a First Amendment to Credit Agreement (the " Amendment "), which amended the Credit Agreement dated June 16, 2023 among the Company, the subsidiaries as guarantors, the financial institutions from time to time as lenders, and CIBC Bank USA (" CIBC ") as administrative agent (as amended or otherwise modified prior to the effective date of the Amendment, the " Existing Credit Agreement ", and as further amended by the Amendment, the " Amended Credit Agreement "). The Amended Credit Agreement provides for a $50 million revolving credit facility (the " Revolving Credit Facility "), proceeds which were used to refinance in full the Company's term loan facility under the Existing Credit Agreement (the " Refinancing "). Prior to, and in connection with, the Refinancing, the Company reduced its outstanding loans under the Existing Credit Agreement from approximately $59 million to $50 million, which was refinanced pursuant to the Refinancing. The Revolving Credit Facility matures on September 3, 2030. Outstanding loans under the Revolving Credit Facility will accrue interest at a rate equal to Term SOFR plus 3.25% per annum. The obligations of the Company under the Amended Credit Agreement are guaranteed by substantially all of the Company's subsidiaries, other than the Company's regulated insurance subsidiaries, Greenlight Re Corporate Member Ltd. and Greenlight Re Ireland Services Limited. The obligations of the Company under the Amended Credit Agreement are secured by a first-priority lien on a collateral account with a minimum cash balance of $10 million which is held with CIBC. The Amended Credit Agreement contains customary conditions, representations and warranties, affirmative and negative covenants and events of default. The covenants include certain financial covenants requiring the C

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description of Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GREENLIGHT CAPITAL RE, LTD. (Registrant) By: /s/ Faramarz Romer Name: Faramarz Romer Title: Chief Financial Officer Date: September 9, 2025

View Full Filing

View this 8-K filing on SEC EDGAR