Platinum Restructures Credit Agreement

Bermuda-based Platinum Underwriters Holdings, Ltd. has amended and restated its existing three-year $200 million credit agreement dated October 21, 2005 and entered into a five-year $400 million credit agreement with a syndicate of lenders.

“The amended and restated credit agreement consists of a $150,000,000 senior unsecured credit facility available for revolving borrowings and letters of credit and a $250,000,000 senior secured credit facility available for letters of credit,” said the bulletin. “The revolving line of credit generally will be available for the working capital, liquidity and general corporate requirements of the Company and its subsidiaries.

The credit facility was arranged by Wachovia Capital Markets, LLC, acting as sole and lead arranger and bookrunner.”