Equitable Holdings amends credit agreements to replace LIBOR with SOFR, extends one LC facility

Equitable Holdings, Inc.

Entered into Amendment No. 1 to $1.5B revolving credit agreement replacing LIBOR with SOFR-based rates.
Also amended eight bilateral letter of credit facilities to adopt SOFR benchmarks.
Extended commitment termination date for Natixis LC facility to February 16, 2028.
Total commitment remains $1.5B; no change in borrowing capacity or other key terms.

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

Equitable Holdings, Inc. amended Credit Agreement Amendment with JP Morgan Chase Bank, N.A., as Administrative Agent, and the Banks party thereto (effective 2023-05-12).

Action: amendment
Agreement: credit facility
Counterparty: JP Morgan Chase Bank, N.A., as Administrative Agent, and the Banks party thereto
Effective: 2023-05-12

Exact text from the filing

On May 12, 2023, Equitable Holdings, Inc. (the “Company”) entered into an Amendment No. 1 (the “Credit Agreement Amendment”) to the Company’s existing Amended and Restated Credit Agreement, dated as of June 24, 2021, among the Company, Subsidiary Account Parties party thereto, the Banks party thereto, and JP Morgan Chase Bank, N.A., as the Administrative Agent

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Equitable Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-022018

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