Scottish Re cuts down credit agreements
Scottish Re Group has announced that it has permanently reduced the aggregate commitments under the Amended and Restated Credit Agreement dated July 14, 2005 among Scottish Annuity & Life Insurance Company (Cayman), Scottish Re (Dublin), Scottish Re (US), and Scottish Re and a syndicate of banks to $42.8m.
The Company also announced that Scottish Annuity & Life Insurance Company (Cayman), has terminated the Letter of Credit Agreement dated August 18, 2005 among Scottish Re (Dublin), Scottish Annuity &
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