James River Group Holdings Ltd (JRVR) just unveiled an announcement.
James River Group Holdings, Ltd. has successfully amended its credit agreements with KeyBank and BMO in relation to the sale of its subsidiary JRG Reinsurance Company Ltd. to Fleming Intermediate Holdings LLC for an estimated $291.4 million. The amendments include a reduction of credit commitment, adjustments in interest rates, and the release of JRG Re as a borrower and collateral. Additionally, the company’s CEO of JRG Re has transitioned to the acquiring company, following the completion of the sale.
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