ProSight Global, Inc. (NYSE: PROS) (ProSight) today announced that it has closed a $65 million revolving credit facility. This announcement follows ProSight's June 16 announcement of a $165 million delayed draw term loan to refinance $165m of existing indebtedness maturing in November 2020.

"We are pleased to have finalized this upsized revolver. This agreement builds upon our previously announced delayed draw term loan, and provides additional flexibility to support our growth," said ProSight CEO and President Larry Hannon.

The joint lead arrangers of the revolving credit facility are SunTrust Robinson Humphrey, Citizens Bank, N.A., Regions Capital Markets, and KeyBank N.A.

Revolving Credit Facility Terms

The $65 million revolving credit facility has a three-year maturity and includes available interest rates linked to customary base rates and to LIBOR, and if drawn upon today would bear interest at LIBOR +300bps subject to a 75bp LIBOR floor based on ProSight's current debt to capitalization ratio.

The revolving credit facility contains customary representations, warranties, and covenants.

About ProSight

Founded in 2009 and headquartered in Morristown, New Jersey, ProSight Global, Inc. is an innovative property and casualty insurance company that designs unique insurance solutions to help customers improve their business and realize value from their insurance purchasing decision. The company focuses on select niche industries, deploying differentiated underwriting and claims expertise with the goal of enhancing each customer's operating performance. ProSight's products are sold through a limited and select group of retail and wholesale distribution partners. Each of ProSight's regulated insurance company subsidiaries are rated "A-" (Excellent) by A.M. Best. To learn more about ProSight visit www.prosightspecialty.com.