Globe Life enters $170M delayed draw term loan agreement with BofA-led syndicate

GLOBE LIFE INC.

Unsecured delayed draw term loan up to $170M; minimum draw $150M, available until May 15, 2023.
Loan matures 18 months after funding date; single draw permitted.
Pricing grid tied to debt ratings: Term SOFR + 1.000% (A+/A1) to 1.625% (<BBB/Baa2).
Administrative agent is Bank of America; co-syndication agents: U.S. Bank and Wells Fargo.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GLOBE LIFE INC. entered into Term Loan Agreement with Bank of America, N.A., as Administrative Agent, and each lender from time to time a party thereto valued at up to $170,000,000 (effective 2023-04-14).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A., as Administrative Agent, and each lender from time to time a party thereto
Value: up to $170,000,000
Effective: 2023-04-14

Exact text from the filing

On April 14, 2023 (the “Effective Date”), Globe Life Inc. (the “Company”) entered into a Delayed Draw Term Loan Agreement among the Company, as borrower, Bank of America, N.A., as Administrative Agent, and each lender from time to time a party thereto (“Lenders”) (the “Term Loan Agreement”).

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GLOBE LIFE INC. filing history →

Source: SEC EDGAR

accession 0000320335-23-000022

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