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8-K filed November 2, 2022, 7:59 PM ET ticker CINF CIK 0000020286
debt confidence high sentiment neutral materiality 0.30

CINCINNATI FINANCIAL CORP (CINF): debt financing — Cincinnati Financial amends Letter of Credit Facility, extends expiration to Feb 2027, adopts Term SOFR

CINCINNATI FINANCIAL CORP

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CINCINNATI FINANCIAL CORP amended credit facility with The Bank of Nova Scotia maturing February 28, 2027.

Instrument
credit facility
Counterparty
The Bank of Nova Scotia
Maturity
February 28, 2027
Event
amendment
Exact text from the filing
4 (the “Fourth Amendment”) to the Letter of Credit Facility Agreement, dated February 25, 2019 (the “Facility Agreement”) with The Bank of Nova Scotia as issuing lender. The Fourth Amendment and Annex A to the Fourth Amendment amend Section 1.1 Expiration Date to February 28, 2027; change multiple references from the year 2022 to 2023; remove all references to LIBOR and replace them with Term SOFR; amend the Benchmark Replacement language in Section 3.6; add a Negative Covenant in Section 6.2.16; add definitions in Section 1.1 to address the aforementioned changes; and make other edits in Sections 2.4.3, 6.1.11, and Section 7 to reflect changes in Lloyd's procedures.
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Source: SEC EDGAR
accession 0000020286-22-000069
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