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Material Agreement – Form 8-K
| Item 1.01 | Entry into a Material Definitive Agreement |
On March 26, 2024 , AXIS Specialty Limited , AXIS Re SE , AXIS Specialty Europe SE , AXIS Insurance Company , AXIS Surplus Insurance Company and AXIS Reinsurance Company (the "Companies"), each a subsidiary of AXIS Capital Holdings Limited , a Bermuda company, amended their existing $500 million secured letter of credit facility with Citibank Europe plc to: (i) reduce the committed utilization capacity available under the facility to $300 million ; (ii) enter into an uncommitted secured letter of credit facility with Citibank Europe plc ; (iii) extend the tenors of issuable letters of credit to March 31, 2026 ; and (iv) make certain updates to the facility's collateral and fee arrangements.
The description of the amendments to the letter of credit facility and related documents describedherein is qualified in its entirety by reference to Exhibits 10.1, 10.2, 10.3 and 10.4, respectively, which are incorporated herein by reference.
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