White Mountains subsidiary refinances $150M debt with $200M notes at lower rate, funds dividend

Filed May 15, 2026 · Period ending May 14, 2026 · ~1 min read

Key Changes

• high

  HG Global issued $200M senior secured notes at 7.39% fixed rate to refinance existing $150M term loan at 9.93%, reducing interest costs by 254 basis points and locking in fixed rate for 10 years through 2036.

  Item 1.01 verify on EDGAR →
• high

  Net proceeds will fully repay the $150M existing term loan, cover transaction fees, and fund a dividend to White Mountains and other HGG equity holders, extracting capital from the subsidiary.

  Item 1.01 verify on EDGAR →
• low

  The Note Purchase Agreement includes standard representations, covenants, and default provisions typical for senior secured debt transactions of this type.

  Item 1.01 verify on EDGAR →