UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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(I.R.S. Employer Identification No.) |
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P.O. Box HM 1282 Hamilton HM FX Bermuda | |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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| Item 1.01. | Entry into a Material Definitive Agreement. |
On March 2, 2022, each of Argo Group International Holdings, Ltd., Argo Group US, Inc., Argo International Holdings Limited and Argo Underwriting Agency Limited (as “Borrowers”) entered into an Amendment No. 1 to the Credit Agreement (“Amendment No. 1”) with JPMorgan Chase Bank, N.A., as the administrative agent, with respect to its existing Credit Agreement, dated as of November 2, 2018, among the Borrowers, JPMorgan Chase Bank, N.A., as Administrative Agent and as a lender, and the other lenders party thereto (the “Credit Agreement”).
Pursuant to Amendment No. 1, the Credit Agreement was amended to replace the London Interbank Offering Rate (LIBOR) with the Euro Interbank Offered Rate (EURIBOR) and the Sterling Overnight Index Average (SONIA) as the interest rate benchmark for borrowings denominated in Euros and in Sterling, respectively. Amendment No. 1 also sets forth provisions for fallback rates in the event that EURIBOR and SONIA are not available.
The foregoing summary of Amendment No. 1 is not complete and is qualified in its entirety by reference to the full text of the Amendment No. 1, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits:
| No. |
Exhibit | |
| 10.1 | Amendment No. 1 to the Credit Agreement, dated March 2, 2022, by and among Argo Group International Holdings, Ltd., Argo Group U.S., Inc., Argo International Holdings Limited and Argo Underwriting Agency Limited, as Borrowers, and JPMorgan Chase Bank, N.A., individually and as Administrative Agent, and the other financial institutions signatory thereto. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: March 4, 2022 | ARGO GROUP INTERNATIONAL HOLDINGS, LTD. | |||||
| By: | /s/ Scott Kirk | |||||
| Name: | Scott Kirk | |||||
| Title: | Chief Financial Officer | |||||