Slide Insurance secured a $175 million senior credit facility led by Regions Bank in its capacity as administrative agent, joint lead arranger and joint bookrunner. Synovus Bank and Texas Capital Bank, through its TCBI Securities division, also supported the transaction as a joint lead arranger and joint bookrunner.
Use of proceeds for the transaction includes refinancing a bilateral senior credit facility previously provided by Regions, in addition to providing incremental capital to support various organic and inorganic growth initiatives.
“This is a significant milestone for Slide and further demonstrates our strong financial strength and solvency,” Bruce Lucas, founder and CEO of Slide Insurance, said. “We are continuing to grow the company while offering affordable, and much needed, solutions to our policyholders. This is one of the largest loans ever made to a Florida insurer and will provide additional reserve capital to continue our growth trajectory.”
