Cigna enters new $6.5B revolving credit facilities, replacing existing lines

Cigna Group

Signed a $5.0B five-year revolver and a $1.5B 364-day revolver, effective April 25, 2024.
Facilities include an accordion option to increase total commitments by up to $1.5B to $8.0B.
Credit agreements replace Cigna's prior revolving credit facilities in full.
Leverage covenant: total consolidated debt to capitalization ratio cannot exceed 0.60:1 (or 0.65:1 post-large acquisition).
Interest rates based on SOFR plus an applicable margin depending on Cigna's credit ratings.

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