Principal Financial Group enters $900M five-year credit facility

PRINCIPAL FINANCIAL GROUP INC

New $900M revolving credit facility matures Sept 9, 2031; can be increased to $1.3B.
Refinances existing Oct 2022 facility; removes Term SOFR credit spread adjustment, revises pricing grid.
No borrowings outstanding; unsecured, guaranteed by PFG and PFSI.
Financial covenants: minimum Statutory Surplus of $2.885B and Total Debt/Total Capital ratio ≤35%.
Commitment fee and margin pricing based on PLIC financial strength rating; initial Pricing Level 3.

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