trending Market Intelligence /marketintelligence/en/news-insights/trending/CFST2OHTkyacZ2bLQHzNxA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

State National unit enters loan agreement

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February


State National unit enters loan agreement

State NationalCos. Inc. on March 31, through its subsidiary T.B.A. Insurance Group Ltd., entered into a loan agreementwith Frost Bank as lender, which provides for a secured revolving credit facilityin an aggregate principal amount of $15 million.

According to a Form 8-K filed April 5, the agreement matureson April 30, 2018. Under the agreement, T.B.A. may request advances up to the aggregateamount of the unused commitment under the credit facility, on a revolving basis,prior to the maturity of the agreement. Borrowings will bear interest at a variablerate equal to The Wall Street JournalLIBOR plus 1.85% per annum, provided that TheWall Street Journal LIBOR will be subject to a floor of 0.15%. T.B.A. also willpay a commitment fee to Frost on the daily average unused commitment amount forthe period running from the closing date to the maturity date at a rate of 0.25%per annum.

T.B.A.'s obligations under theagreement are guaranteed by State National and are secured by a securities accountin the name of T.B.A. maintained with Frost. T.B.A. must maintain assets with amarket value of at least $25 million in the securities account.

T.B.A. expects to use the proceeds of any borrowings under theagreement as needed to provide short-term liquidity and to minimize the need tocarry large cash balances to protect against various contingencies.