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Greenlight Capital Re (GLRE) has shared an announcement.
Greenlight Capital Re, Ltd. is set to lose its $275 million letter of credit facility from Citibank Europe plc, effective August 20, 2024, following a termination notice from Citi. Despite this, the company remains poised as Citi will continue to provide a similar facility on an uncommitted basis, and Greenlight Reinsurance has already secured a $200 million facility with CIBC Bank USA, ensuring financial stability and operational continuity for its stakeholders.
For a thorough assessment of GLRE stock, go to TipRanks’ Stock Analysis page.