Argo Group International Holdings entered into a $325 million credit agreement with JPMorgan Chase Bank as administrative agent.

In connection with the new agreement, Argo Group International Holdings borrowed $125 million as a term loan due on March 3, 2019, which was used on March 3, 2017 to pay off $125 million of revolving borrowings outstanding under the prior agreement. In addition, the agreement provides for a $200 million revolving credit facility set to expire on March 3, 2022 unless extended.

The new credit agreement replaced a prior agreement with JPMorgan Chase Bank dated March 7, 2014.

Borrowings may be used for general corporate purposes, including working capital, permitted acquisitions and letters of credit.