Slide Insurance Holdings, Inc. filed a current report on Form 8-K on October 27, 2026, disclosing its entry on October 26, 2026, into a new $1.072 billion secured credit agreement with The Huntington National Bank as administrative agent, and the simultaneous termination of its prior credit facility with Regions Bank.

Key Highlights

  • Total facility size: The Credit Agreement provides secured credit facilities in an aggregate principal amount of $1.072 billion.
  • Two-tranche structure: The facilities consist of a $670.0 million revolving credit facility and a $402.0 million delayed draw term loan facility.
  • Initial draw: On the October 26, 2026 closing date, the company borrowed $50.0 million of delayed draw term loans.
  • Maturity date: Unless terminated earlier, the credit facilities are scheduled to mature on October 26, 2031.
  • Prior facility terminated: The company repaid in full and terminated its Amended and Restated Credit Agreement with Regions Bank, which provided a revolving credit facility of $530.4 million.
  • Incremental capacity: The company may request additional commitments of up to $378.0 million, subject to lender agreement and certain conditions.
  • Interest rate range: Borrowings bear interest at the company's option at a base rate plus 2.00% to 2.75% per annum, or Term SOFR plus 3.00% to 3.75% per annum, based on the Consolidated Total Leverage Ratio.

Slide Insurance's New $1.072 Billion Credit Facility: Structure and Key Terms

According to the filing, Slide Insurance Holdings, Inc. (NASDAQ:SLDE), headquartered in Tampa, Florida, entered into the Credit Agreement on October 26, 2026, with The Huntington National Bank serving as administrative agent, collateral agent, issuing bank, and swingline lender. The filing describes the new agreement as "a material upsizing over the Existing Credit Agreement," which had provided a revolving credit facility of $530.4 million under Regions Bank.

The revolving facility permits swingline loans of up to $10.0 million and letters of credit, each limited to unused revolving commitments. Under the delayed draw term loan facility, additional borrowings after the closing date are available until April 26, 2028, in minimum increments of $5.0 million with at least five business days' prior notice, and the company may make no more than ten delayed draw borrowings in total, including the initial $50.0 million drawn on the closing date. Amounts repaid or prepaid under the delayed draw term loan facility may not be reborrowed, and each delayed draw term loan amortizes in quarterly installments equal to 2.5% of its original principal amount, with the balance due at maturity. The filing states that proceeds from closing-date borrowings were used to repay the prior facility and cover related fees and expenses.

The Credit Agreement includes financial maintenance covenants tested quarterly beginning with the quarter ending December 31, 2026. These require a Consolidated Total Leverage Ratio of not more than 2.50 to 1.00 (which may increase to 3.00 to 1.00 for four quarters following certain permitted acquisitions exceeding $200.0 million in aggregate consideration, up to three times), a Consolidated Fixed Charge Coverage Ratio of not less than 1.20 to 1.00, and a minimum Consolidated Net Worth of not less than 80% of Consolidated Net Worth as of June 30, 2026 plus specified additions. The obligations are secured by liens on substantially all assets of the company and guarantors, though the filing notes that regulated insurance and reinsurance subsidiaries are not Guarantors.

What Was Disclosed

Slide Insurance Holdings disclosed that it entered into a new $1.072 billion secured credit agreement on October 26, 2026, with Huntington as agent, replacing a prior $530.4 million facility with Regions Bank that was simultaneously repaid and terminated.