Financing ·
Jackson Financial Inc. entered into a $1.25 billion revolving credit agreement with a syndicate of banks, with Wells…
JXNJackson Financial Inc.
Jackson Financial Inc. entered into a $1.25 billion revolving credit agreement with a syndicate of banks, with Wells Fargo Bank, National Association, as Administrative Agent. The agreement includes a $500 million sub-limit for letters of credit and allows for an additional $500 million in commitments. Interest rates are based on a Base Rate or a Term SOFR Rate plus a margin of 1.125% to 1.875% for Term SOFR or 0.125% to 0.875% for the Base Rate. The agreement terminates on June 30, 2031, and replaces the 2023 credit agreement. Jackson Financial Inc. operates in the financial services industry, providing life insurance and annuity products.