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SAFT > SEC Filings for SAFT > Form 8-K on 20-Aug-2008All Recent SEC Filings

Show all filings for SAFETY INSURANCE GROUP INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for SAFETY INSURANCE GROUP INC


20-Aug-2008

Entry into a Material Definitive Agreement, Financial Statements and E


ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On August 14, 2008, Safety Insurance Group, Inc. (the "Registrant") entered into an Amended and Restated Revolving Credit Agreement (the "New Credit Agreement") with RBS Citizens, N.A ("RBS Citizens"), as administrative agent for itself and other lending institutions. The New Credit Agreement amended and restated the terms of the Registrant's existing Revolving Credit Agreement with RBS Citizens prior to its expiration date of August 17, 2008. Among other things, the New Credit Agreement extends the maturity date to August 14, 2013 and provides a $30 million revolving loan facility with an accordion feature allowing for future expansion of the committed amount up to $50 million. Loans under the credit facility bear interest at the Registrant's option at either
(i) the LIBOR rate plus 1.25% per annum or (ii) the higher of RBS Citizens prime rate or 0.5% above the federal funds rate plus 1.25% per annum. The Registrant has no amount outstanding under this credit facility currently.



ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(c) Exhibits. The following exhibit is furnished herewith:

Exhibit Number                               Description
10.1             Amended and Restated Revolving Credit Agreement dated August 14,
                 2008 among Safety Insurance Group, Inc. and RBS Citizens, N.A.


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