Company: GLRE
Filing Date: 2025-09-09
Form Type: 8-K
Source: 0001385613-25-000103
Chunk: 1

Company: GREENLIGHT CAPITAL RE, LTD.
Filing Date: 2025-09-09
Form: 8-K
Item: Item 1.01
Chunk 1
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 and lending relationships, all of which have been entered into in the ordinary course of business.

2. Citibank Letter of Credit Facility

On September 9, 2025, Greenlight Reinsurance, Ltd. (“Greenlight”), a direct subsidiary of the Company, entered into an uncommitted and unsecured £50 million letter of credit facility arrangement (the " LC Facility") with Citibank Europe plc (“ Citibank”) to support the continued growth of Greenlight’s Funds at Lloyd's business.

The LC Facility will be used by Greenlight to provide Funds at Lloyd's to support Greenlight’s participation on third- party Lloyd’s Syndicates as well as Greenlight Innovation Syndicate 3456.

The letter of credit issued under the LC Facility may be terminated by Citibank delivering a termination notice to Lloyd’s (with notice to Greenlight) specifying the final expiration date; provided that in no event will the final expiration date be earlier than December 31 st of the fourth anniversary of the date of such termination notice.

The obligations of Greenlight under the LC Facility are guaranteed by the Company.

The LC Facility and other transaction documents contain customary conditions, representations and warranties and covenants.

General

The foregoing description of the Amendment and the LC Facility (collectively, the “ Documents”) and the transactions contemplated thereby does not purport to be complete and is qualified, in its entirety, by reference to the full text of the Documents, copies of which will be filed as exhibits to the Company's Quarterly Report on Form 10-Q for the quarter ending September 30, 2025.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant