enstar group ltd (ESGR) Key Developments
Enstar Group Limited Enters into $500 Million Revolving Credit Facility Agreement
Sep 16 14
Enstar Group Limited announced that on September 16, 2014, the company, and certain of its subsidiaries, as borrowers and as guarantors, entered into a new Revolving Credit Facility Agreement with National Australia Bank Limited (NAB), Barclays Bank PLC, and Royal Bank of Canada, as mandated lead arrangers and original lenders, and NAB as agent (the Credit Agreement). The Credit Agreement provides for an unsecured five-year revolving credit facility (expiring in September 2019) pursuant to which the company is permitted to borrow up to an aggregate of $500 million, which is available to fund permitted acquisitions and for general corporate purposes. Interest is payable at the end of each interest period chosen by the company or, at the latest, each six months. The interest rate is LIBOR plus a margin factor initially set at 2.75%. The margin factor is subject to variation (ranging from 2.50% to 3.25%) in the event of a change to the company's long term senior unsecured debt rating assigned by Standard & Poor's Ratings Services or Fitch Ratings Ltd. Any unused portion of the Credit Facility will be subject to a commitment fee of 35% of the applicable margin factor.
Enstar Group Mulls Acquisitions
Sep 12 14
Enstar Group Limited (NasdaqGS:ESGR) is seeking acquisitions. Enstar Group Limited has filed a Shelf Registration intends to use the proceeds intends for general corporate purposes, including, but not limited to, funding for acquisitions, working capital and other business opportunities.
Enstar Group Limited Reports Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2014
Aug 11 14
Enstar Group Limited reported consolidated financial results for the second quarter and six months ended June 30, 2014. The company reported consolidated net earnings of $51.8 million or $2.68 per fully diluted share for the three months ended June 30, 2014 compared to $19.2 million or $1.15 per fully diluted share for the three months ended June 30, 2013.
The company reported net earnings of $81.4 million or $4.52 per fully diluted share for the six months ended June 30, 2014 compared to $31.2 million or $1.87 per fully diluted share for the six months ended June 30, 2013.
Enstar Group Limited Approves Amendments to its Bye-Laws
Jun 13 14
Enstar Group Limited announced that its shareholders approved the amendments to its Bye-laws to Create an Additional Series of Non-Voting Common Shares.
Enstar Group Limited - Shareholder/Analyst Call
Jun 9 14
To provide a detailed update on the company