Southland Holdings, Inc. disclosed that Zurich Insurance Company Ltd, one of its surety providers, has advanced approximately $15 million under a general indemnity agreement to fund bonded construction contract obligations and maintain progress on those projects, creating an obligation for Southland to indemnify and reimburse the surety for the amounts advanced. The company is working with its term loan agent, Callodine Commercial Finance, LLC, and other lenders to assess how the surety funding affects its existing credit agreement, while also negotiating with its sureties and lenders for additional surety funds and a longer-term financing solution, with no assurance that such additional funding or arrangements will ultimately be secured.
Southland Holdings secures $15 million surety funding support
01/16/2026 10:51 AM