7.75% Senior Unsecured Notes due 2031
Note · Universal Insurance Holdings, Inc.
Reference: 7.75% Senior Unsecured Notes due 2031
- Original principal
- USD 100,000,000
- Outstanding
- —
- Commitment
- —
- Availability
- —
- Maturity
- —
Last reported interest terms: 7.75% Reported 2026-06-18 Later filings may not restate these terms; this does not confirm they still apply.
Verified covenant terms
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Section 9.04(2) · Financial Covenants
The Company shall maintain, as of the last day of each fiscal quarter, a Consolidated Indebtedness to GAAP Capitalization Ratio of no greater than 40%.
Applies to every series under this agreement Metric: Consolidated Indebtedness to GAAP Capitalization Ratio
Stated threshold: 40 %
Testing frequency: as of the last day of each fiscal quarter Section 9.04 Financial Covenants.
Full wording and supporting evidence
Source evidence: The Company shall maintain, as of the last day of each fiscal quarter, a Consolidated Indebtedness to GAAP Capitalization Ratio of no greater than 40%.
Target identity evidence: This INDENTURE dated as of June 16, 2026 is between Universal Insurance Holdings, Inc., a Delaware corporation (the "Company"), and UMB Bank National Association, as trustee (the "Trustee").
Target identity evidence: WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for an issue of $100,000,000 in aggregate principal amount of 7.75% Senior Unsecured Notes due 2031, subject to the terms and conditions set forth in this Indenture.
Target identity evidence: "Initial Notes" means the $100,000,000 in aggregate principal amount of the Company's 7.75% Senior Unsecured Notes due 2031 issued under this Indenture on the date hereof.
Target identity evidence: "Stated Maturity" means June 30, 2031.
Target identity evidence: [CUSIP Accredited Investors: 91359VAE7]
Target identity evidence: [CUSIP QIBs:91359VAD9]
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Section 9.04(1) · Financial Covenants
The Company shall maintain cash on hand at least equal to the next twelve months of interest payments on the Notes so long as the Notes remain Outstanding.
Applies to every series under this agreement Exceptions: so long as the Notes remain Outstanding Section 9.04 Financial Covenants.
Full wording and supporting evidence
Source evidence: The Company shall maintain cash on hand at least equal to the next twelve months of interest payments on the Notes so long as the Notes remain Outstanding.
Target identity evidence: This INDENTURE dated as of June 16, 2026 is between Universal Insurance Holdings, Inc., a Delaware corporation (the "Company"), and UMB Bank National Association, as trustee (the "Trustee").
Target identity evidence: WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for an issue of $100,000,000 in aggregate principal amount of 7.75% Senior Unsecured Notes due 2031, subject to the terms and conditions set forth in this Indenture.
Target identity evidence: "Initial Notes" means the $100,000,000 in aggregate principal amount of the Company's 7.75% Senior Unsecured Notes due 2031 issued under this Indenture on the date hereof.
Target identity evidence: "Stated Maturity" means June 30, 2031.
Target identity evidence: [CUSIP Accredited Investors: 91359VAE7]
Target identity evidence: [CUSIP QIBs:91359VAD9]
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Section 9.04(3) · Financial Covenants
Other than existing secured indebtedness of the Company or any of its Subsidiaries, the Company will not incur or permit to exist any mortgage, pledge, encumbrance or lien or charge securing indebtedness on any property or asset of the Company or any of its Subsidiaries in excess of 40% of the Consolidated Indebtedness of the Company when combined with any existing secured indebtedness of the Company or any of its Subsidiaries.
Applies to every series under this agreement Exceptions: Other than existing secured indebtedness of the Company or any of its Subsidiaries Section 9.04 Financial Covenants.
Full wording and supporting evidence
Source evidence: Other than existing secured indebtedness of the Company or any of its Subsidiaries, the Company will not incur or permit to exist any mortgage, pledge, encumbrance or lien or charge securing indebtedness on any property or asset of the Company or any of its Subsidiaries in excess of 40% of the Consolidated Indebtedness of the Company when combined with any existing secured indebtedness of the Company or any of its Subsidiaries.
Target identity evidence: This INDENTURE dated as of June 16, 2026 is between Universal Insurance Holdings, Inc., a Delaware corporation (the "Company"), and UMB Bank National Association, as trustee (the "Trustee").
Target identity evidence: WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for an issue of $100,000,000 in aggregate principal amount of 7.75% Senior Unsecured Notes due 2031, subject to the terms and conditions set forth in this Indenture.
Target identity evidence: "Initial Notes" means the $100,000,000 in aggregate principal amount of the Company's 7.75% Senior Unsecured Notes due 2031 issued under this Indenture on the date hereof.
Target identity evidence: "Stated Maturity" means June 30, 2031.
Target identity evidence: [CUSIP Accredited Investors: 91359VAE7]
Target identity evidence: [CUSIP QIBs:91359VAD9]
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Section 9.05 · Offer to Repurchase Upon a Change of Control
If a Change of Control occurs, unless the Company has previously or concurrently exercised its right to redeem all of the Notes as set forth in the Notes and in Sections 10.02 and 10.04, each Holder of Notes will have the right, except as provided below, to require the Company to repurchase all or any part of that Holder's Notes pursuant to an offer (a "Change of Control Offer") on the terms set forth in this Indenture.
Applies to every series under this agreement Springing Trigger: Change of Control Section 9.05 Offer to Repurchase Upon a Change of Control
Full wording and supporting evidence
Source evidence: If a Change of Control occurs, unless the Company has previously or concurrently exercised its right to redeem all of the Notes as set forth in the Notes and in Sections 10.02 and 10.04, each Holder of Notes will have the right, except as provided below, to require the Company to repurchase all or any part of that Holder's Notes pursuant to an offer (a "Change of Control Offer") on the terms set forth in this Indenture. In the Change of Control Offer, the Company will offer to make a cash payment (a "Change of Control Payment") equal to 101% of the aggregate principal amount of Notes repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to the date of repurchase (the "Change of Control Settlement Date"), subject to the rights of Holders on the relevant record date to receive interest due on an Interest Payment Date that is on or prior to the Change of Control Settlement Date. Except as set forth below, within 30 days following any Change of Control, the Company will send a notice to each Holder of Notes describing the transaction or transactions that constitute the Change of Control and offering to repurchase properly tendered Notes on the Change of Control Settlement Date specified in the notice, which date will be no earlier than five (5) days and no later than 60 days from the date such notice is sent.
Target identity evidence: This INDENTURE dated as of June 16, 2026 is between Universal Insurance Holdings, Inc., a Delaware corporation (the "Company"), and UMB Bank National Association, as trustee (the "Trustee").
Target identity evidence: WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for an issue of $100,000,000 in aggregate principal amount of 7.75% Senior Unsecured Notes due 2031, subject to the terms and conditions set forth in this Indenture.
Target identity evidence: "Initial Notes" means the $100,000,000 in aggregate principal amount of the Company's 7.75% Senior Unsecured Notes due 2031 issued under this Indenture on the date hereof.
Target identity evidence: "Stated Maturity" means June 30, 2031.
Target identity evidence: [CUSIP Accredited Investors: 91359VAE7]
Target identity evidence: [CUSIP QIBs:91359VAD9]
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Section 9.07 · Company Statement as to Compliance
The Company will deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers' Certificate covering the preceding fiscal year, stating whether or not, to the best of his or her knowledge, the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to notice requirements or periods of grace) and if the Company will be in default, specifying all such defaults and the nature and status thereof of which…
Applies to every series under this agreement Section 9.07 Company Statement as to Compliance.
Full wording and supporting evidence
Source evidence: The Company will deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers' Certificate covering the preceding fiscal year, stating whether or not, to the best of his or her knowledge, the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to notice requirements or periods of grace) and if the Company will be in default, specifying all such defaults and the nature and status thereof of which he or she may have knowledge.
Target identity evidence: This INDENTURE dated as of June 16, 2026 is between Universal Insurance Holdings, Inc., a Delaware corporation (the "Company"), and UMB Bank National Association, as trustee (the "Trustee").
Target identity evidence: WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for an issue of $100,000,000 in aggregate principal amount of 7.75% Senior Unsecured Notes due 2031, subject to the terms and conditions set forth in this Indenture.
Target identity evidence: "Initial Notes" means the $100,000,000 in aggregate principal amount of the Company's 7.75% Senior Unsecured Notes due 2031 issued under this Indenture on the date hereof.
Target identity evidence: "Stated Maturity" means June 30, 2031.
Target identity evidence: [CUSIP Accredited Investors: 91359VAE7]
Target identity evidence: [CUSIP QIBs:91359VAD9]
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Section 9.01 · Payment of Principal and Interest
The Company covenants and agrees for the benefit of the Holders that it will duly and punctually pay the principal of, and interest on, the Notes, in accordance with the terms thereof and this Indenture.
Applies to every series under this agreement Section 9.01 Payment of Principal and Interest.
Full wording and supporting evidence
Source evidence: The Company covenants and agrees for the benefit of the Holders that it will duly and punctually pay the principal of, and interest on, the Notes, in accordance with the terms thereof and this Indenture.
Target identity evidence: This INDENTURE dated as of June 16, 2026 is between Universal Insurance Holdings, Inc., a Delaware corporation (the "Company"), and UMB Bank National Association, as trustee (the "Trustee").
Target identity evidence: WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for an issue of $100,000,000 in aggregate principal amount of 7.75% Senior Unsecured Notes due 2031, subject to the terms and conditions set forth in this Indenture.
Target identity evidence: "Initial Notes" means the $100,000,000 in aggregate principal amount of the Company's 7.75% Senior Unsecured Notes due 2031 issued under this Indenture on the date hereof.
Target identity evidence: "Stated Maturity" means June 30, 2031.
Target identity evidence: [CUSIP Accredited Investors: 91359VAE7]
Target identity evidence: [CUSIP QIBs:91359VAD9]
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Section 9.04(4) · Financial Covenants
The Company will use reasonable best efforts to maintain a rating of the Notes from Kroll Bond Rating Agency, LLC ("KBRA"), provided that, in the event KBRA is no longer available to rate the Notes, the Company shall use its reasonable best efforts to maintain a rating of the Notes with another Ratings Agency.
Applies to every series under this agreement Exceptions: in the event KBRA is no longer available to rate the Notes, the Company shall use its reasonable best efforts to maintain a rating of the Notes with another Ratings Agency Section 9.04 Financial Covenants.
Full wording and supporting evidence
Source evidence: The Company will use reasonable best efforts to maintain a rating of the Notes from Kroll Bond Rating Agency, LLC ("KBRA"), provided that, in the event KBRA is no longer available to rate the Notes, the Company shall use its reasonable best efforts to maintain a rating of the Notes with another Ratings Agency.
Target identity evidence: This INDENTURE dated as of June 16, 2026 is between Universal Insurance Holdings, Inc., a Delaware corporation (the "Company"), and UMB Bank National Association, as trustee (the "Trustee").
Target identity evidence: WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for an issue of $100,000,000 in aggregate principal amount of 7.75% Senior Unsecured Notes due 2031, subject to the terms and conditions set forth in this Indenture.
Target identity evidence: "Initial Notes" means the $100,000,000 in aggregate principal amount of the Company's 7.75% Senior Unsecured Notes due 2031 issued under this Indenture on the date hereof.
Target identity evidence: "Stated Maturity" means June 30, 2031.
Target identity evidence: [CUSIP Accredited Investors: 91359VAE7]
Target identity evidence: [CUSIP QIBs:91359VAD9]
Documents and filing history
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Issuance
· 2026-06-18
Original principal USD 100,000,000 Exact source document
Parent 8-K filing · 2026-06-18
WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for an issue of $100,000,000 in aggregate principal amount of 7.75% Senior Unsecured Notes due 2031, subject to the terms and conditions set forth in this Indenture.
Issuer evidence: This INDENTURE dated as of June 16, 2026 is between Universal Insurance Holdings, Inc., a Delaware corporation (the “*Company*”), and UMB Bank National Association, as trustee (the “*Trustee*”).
Supporting evidence: WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for an issue of $100,000,000 in aggregate principal amount of 7.75% Senior Unsecured Notes due 2031, subject to the terms and conditions set forth in this Indenture.