Platinum Arranges $200 Million Three-Year Credit Agreement

Bermuda-based Platinum Underwriters Holdings, Ltd. announced that it has entered into a three-year $200,000,000 credit agreement with a syndicate of lenders.

“The credit agreement consists of a $100,000,000 senior unsecured credit facility available for revolving borrowings and letters of credit, and a $100,000,000 senior secured credit facility available for letters of credit,” said the bulletin.

“The revolving line of credit will be available for the working capital, liquidity and general corporate requirements of the Company and its subsidiaries,” it continued.

Wachovia Capital Markets, LLC arranged the credit facility, acting as sole lead arranger and bookrunner