0001628280-26-035349
SEC filingHG Global Ltd., a subsidiary of White Mountains Insurance Group, Ltd., completed a $200 million private placement of 7.39% senior secured notes due 2036 to refinance its existing $150 million floating-rate term loan.
White Mountains' subsidiary HG Global Ltd. entered into a Note Purchase Agreement on May 14, 2026, enabling the issuance of $200 million in senior secured notes at a fixed 7.39% interest rate, maturing in 2036. This refinances an existing $150 million term loan that carried a higher 9.93% floating rate in the latest period, providing cost savings through lower fixed-rate debt and interest rate certainty. Proceeds also cover transaction fees and support a dividend distribution to White Mountains and other HGG equity holders, returning capital to owners. The notes are secured, with the agreement containing standard protections including representations, warranties, covenants, and default provisions typical for such private placements. This strengthens HGG's capital structure by extending maturities and reducing near-term refinancing risk while optimizing debt expenses for the parent company's insurance operations.