trending Market Intelligence /marketintelligence/en/news-insights/trending/6c-wYsDx5ACQEc84j69Fjg2 content esgSubNav
In This List

Assurant amends credit facility

Blog

Perspectives from China: The Shifting Regulatory Landscape

Blog

Anticipate the Unknown: Does Supply Chain Disruption Lead to Increased Credit Risk?

Blog

Data Stories: Data insights to help alleviate business complexity amid geopolitical risks

Blog

Expand Your Perspective: Data & Distribution Q&A


Assurant amends credit facility

Assurant Inc. amended a $450 million five-year senior unsecured revolving credit facility due December 2022, replacing its $400 million credit facility due September 2019.

The company entered into the agreement with certain lenders. JPMorgan Chase Bank NA is the administrative agent, and Wells Fargo Bank NA is the syndication agent. The proceeds of these loans and the letters of credit issued under the facility may be used for general corporate purposes. The company may increase the total amount available under the new facility to $575 million.

Further, the company entered into a $350 million 364-day senior unsecured term loan credit facility with certain lenders. JPMorgan Chase Bank NA is the administrative agent; Morgan Stanley Senior Funding Inc. and Wells Fargo Bank NA are co-syndication agents.

The company may use the proceeds of loans to finance the transactions under its merger plan and to redeem its 2.50% senior notes due March 15, 2018.