Wintrust Financial Corp. amended a credit agreement for a revolving credit facility, which extends the maturity of borrowings under the facility to Dec. 11, 2017.
The amendment also increased the threshold related to the negative lien covenant from $40 million to $60 million and the restriction on subordinated debt from $125 million to $200 million. It also added a financial covenant providing that Wintrust will not permit its common equity Tier 1 Ratio on a consolidated basis for itself or any of its units to be less than the "well-capitalized" minimum. In addition, the amendment updated select defined terms and certain regulatory provisions.
The credit agreement was entered into by the company and several lenders that include Wells Fargo Bank NA (which also serves as administrative agent), U.S. Bank NA and Royal Bank of Canada.