Statement re US$300 million credit facility

About this update from Lancashire Holdings Limited

[{"type":"text","content":"\n \nLANCASHIRE HOLDINGS LIMITED\n\n29 March 2016\n\nLondon, UK\n\nLancashire Holdings Limited announces US$300 million credit facility\n\nLancashire Holdings Limited (\"Lancashire\") today announced that on 24 March 2016, it and its wholly owned subsidiary Lancashire Insurance Company Limited entered into a new US$300 million five year letter of credit and revolving credit facility (the “Facility”) with Lloyds Bank plc (“Lloyds”) and Barclays Bank PLC (“Barclays”) as joint bookrunners, mandated lead arrangers and syndication agents, Lloyds as administrative agent, Lloyds Bank plc New York Branch, as  issuing bank and Lloyds; Barclays; HSBC Bank USA, National Association; The Bank of Nova Scotia and The Bank of New York Mellon as lenders.  The Facility is a replacement of expiring capacity for the group.\n\nThe letters of credit will be used to support obligations under reinsurance liabilities of Lancashire Insurance Company Limited. Denise O’Donoghue, Lancashire's Head of Investments and Treasury, commented “The Lancashire group is very pleased to have the continued support of this strong syndicate of lenders, all of whom represent core relationship banks to Lancashire. This renewal allows Lancashire to maintain financial flexibility and strength for our clients.”\n\nRichard Askey, Relationship Director at Lloyds, added: “We are delighted to have worked with Lancashire on this transaction and to continue to provide a financing structure to support the Lancashire group. This new facility represents a further consolidation of our relationship.”\n\nFor further information, please contact:\n\n\n\nLancashire Holdings LimitedChristopher Head\n+44 20 7264 [email protected]\n\n\n\nJonny Creagh-Coen\n+44 20 7264 [email protected]\n\n\n\n\n\n\n\n\nHaggie Partners\n+44 20 7562 4444\n\n\n\nDavid Haggie\n+44 7768332486\n\n\n\nAbout Lancashire\n\nLancashire, through its UK and Bermuda-based operating subsidiaries, is a global provider of specialty insurance and reinsurance products. The Group companies carry the following ratings:\n\n\n\n\nFinancial Strength Rating (1)\nFinancial Strength Outlook(1)\nLong Term Issuer Rating (2)\n\n\n\n\nA.M. Best\nA (Excellent)\nStable\nbbb   \n\n\n\n\nStandard & Poor’s\nA-\nStable\nBBB\n\n\n\n\nMoody’s\nA3\nStable\nBaa2\n\n\n\...

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