The Navigators Group entered into a credit facility for an aggregate amount of $140 million and £60 million ($74 million). ING was administrative agent, lead arranger and sole bookrunner.

According to a related 8-K filing, ING was also L/C agent for a letter of credit. Barclays and JPMorgan Chase were lenders for the transaction.

The new credit facility replaced a $175 million letter of credit facility that expired on December 31, 2016, according to an SEC filing

The credit facility will be used to support the insurance company’s capacity at Lloyd’s of London operations for 2017 and 2018.