Franklin Resources enters $500M revolver and $300M term loan, to repay $300M notes due Sept 2022

FRANKLIN RESOURCES INC

New $500M revolving credit facility matures Sept 7, 2023; no amounts drawn at closing.
New $300M term loan matures Sept 8, 2025; funded in full at closing to repay 2.800% senior notes due Sept 2022.
Interest on term loan at SOFR + 0.75%-1.00% based on credit rating; facility includes 0.10% credit spread adjustment.
Financial covenant requires consolidated net leverage ratio ≤ 3.00x, measured quarterly.
Revolver carries annual commitment fee of 0.05% on average unused amount.

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