Assurant Inc. has announced the entry into a new third amended and restated credit agreement, establishing a $500 million five-year senior unsecured revolving credit facility with a consortium of lenders, including JPMorgan Chase Bank, N.A. as the administrative agent and Wells Fargo Bank as the syndication agent. This new facility, which replaces a prior similar agreement set to expire in December 2026, will now expire in June 2030. It includes provisions for revolving loans and the issuance of letters of credit up to an aggregate of $500 million, with a sublimit of $50 million for letters of credit. The agreement allows for potential expansion up to $750 million under certain conditions and is intended to support general corporate purposes. The new agreement includes customary covenants and conditions, with any event of default potentially triggering immediate repayment obligations.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.