UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): | October 20, 2008 |
Max Capital Group Ltd.
__________________________________________
(Exact name of registrant as specified in its charter)
Bermuda | 000-33047 | 98-0584464 |
_____________________ (State or other jurisdiction | _____________ (Commission | ______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
Max House, 2 Front Street, Hamilton, Bermuda | HM 11 | |
_________________________________ (Address of principal executive offices) | ___________ (Zip Code) |
Registrant’s telephone number, including area code: | (441) 295-8800 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On October 20, 2008, the Registrant borrowed $100 million under its revolving facility under the Credit Agreement, dated as of August 7, 2007, among Max Bermuda and the Registrant, as borrowers, various financial institutions as the lenders, ING Bank N.V., London Branch and Citibank, NA, as co-syndication agents, Bank of America, National Association, as fronting bank, as administrative agent, and as letter of credit administrator for the lenders and Banc of America Securities LLC, as sole lead arranger and book manager.
The Registrant borrowed the funds in connection with the acquisition previously announced in the Registrant's Form 8-K filed July 28, 2008, and capitalization of the entities to be acquired pursuant thereto. The $100 million bears interest at a rate set to LIBOR plus a premium based on the Registrant's current debt rating.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Max Capital Group Ltd. | ||||
October 24, 2008 | By: | Joseph W. Roberts | ||
Name: Joseph W. Roberts | ||||
Title: Executive Vice President and Chief Financial Officer |