Principal Financial Group enters $800M five-year credit facility; refinances existing revolvers

PRINCIPAL FINANCIAL GROUP INC

Borrowing capacity of $800M, expandable to $1.2B; matures Oct 18, 2027.
Facility is unsecured, replaces 2018 credit lines; no borrowings outstanding currently.
Covenants include minimum statutory surplus of ~$2.763B and max total debt to total capital of 35%.
Includes provisions for sustainability-linked pricing adjustments tied to ESG targets.
SOFR-based rates replace LIBOR; commitment fee ranges from 0.07% to 0.125% based on financial strength rating.

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