Enstar Group Limited Announces New $250M Revolving Credit Facility

Enstar Group Limited ESGR today announced that it has entered into a new three-year $250 million revolving credit facility with National Australia Bank Limited and Barclays Corporate, the corporate banking division of Barclays Bank PLC. Enstar is permitted to use the borrowings under the Credit Facility to prepay certain existing credit facilities, to fund permitted acquisitions and for general corporate purposes. Enstar's ability to draw on the Credit Facility is subject to customary conditions. In addition, as a condition to Enstar's initial borrowing under the Credit Facility, Enstar must prepay approximately $167 million outstanding under existing credit facilities.