saidMarch 29 that the company and wholly owned subsidiary on March24 entered into a new $300 million five-year letter of credit and revolvingcredit facility.
LloydsBank Plc, Barclays Bank Plc, HSBC Bank USA NA, Bank of Nova Scotia and Bank ofNew York Mellon were the lenders. The credit facility is a replacement of anexpiring capacity for the group.
LancashireHoldings will use the letters of credit to support obligations underreinsurance liabilities of the Bermuda-based subsidiary.
LloydsBank and Barclays Bank were acting as joint book runners, mandated leadarrangers and syndication agents. Lloyds Bank acted as the administrativeagent.