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Invesco, subsidiary sign increased credit agreement

Invesco Ltd. and its indirect subsidiary Invesco Finance PLC entered into a five-year, unsecured $1.5 billion credit agreement with a syndicate of banks, financial institutions and other institutional lenders that amends and restates the company's existing $1.25 billion credit agreement from August 2015.

The previous credit agreement was set to expire Aug. 7, 2020, and no prepayment fees were incurred in connection with the amendment and restatement of the prior agreement.

Bank of America NA is administrative agent of the agreement.

Amounts borrowed under the new credit agreement are repayable at maturity Aug. 11, 2022. The proceeds will be used for working capital, capital expenditures, general corporate purposes and other purposes.

The borrower may increase the amount of commitments under the agreement to a maximum amount of $2 billion. Borrowings under the agreement will bear interest at LIBOR for specified interest periods or a floating base rate, plus, in either case, an applicable margin determined with the higher of the credit ratings of the company or borrower.