Financing ·
Principal Financial Group entered into an Amended and Restated Five-Year Credit Facility with a syndicate of banks on…
PFGPrincipal Financial Group Inc
Principal Financial Group entered into an Amended and Restated Five-Year Credit Facility with a syndicate of banks on September 9, 2026. This new facility refinances the existing revolving credit dated October 18, 2022, increasing the borrowing capacity to $900 million with an accordion option up to $1.3 billion. The facility matures on September 9, 2031, and includes revised pricing grids removing previous credit spread adjustments for Term SOFR borrowings. It imposes a minimum Statutory Surplus requirement of approximately $2.89 billion and limits the Total Debt to Total Capital ratio to 35%. Principal Financial Group operates in the financial services industry, providing retirement plans, insurance products, and investment management.