STIFEL FINANCIAL CORP (SF): debt financing — Stifel enters $750M unsecured revolving credit facility, replacing $500M facility

STIFEL FINANCIAL CORP

New $750M revolving credit facility matures Sept 27, 2028, replacing existing $500M facility.
Interest rates are variable based on SOFR; margins tied to SFC's debt ratings.
Borrowers: Stifel Financial Corp. and Stifel Nicolaus & Company, with subsidiary guarantors.
Proceeds for working capital, short-term operating needs, and general corporate purposes.
Covenants: minimum tangible net worth, maximum capitalization ratio, regulatory excess net capital.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

STIFEL FINANCIAL CORP incurred credit facility of up to $750.0 million with Bank of America, N.A. at based on the Secured Overnight Financing Rate maturing September 27, 2028.

Instrument: credit facility
Principal: up to $750.0 million
Counterparty: Bank of America, N.A.
Rate: based on the Secured Overnight Financing Rate
Maturity: September 27, 2028
Event: incurrence

Exact text from the filing

terminated. The Credit Agreement has a maturity date of September 27, 2028, and provides for a committed unsecured borrowing facility for maximum aggregate borrowings of up to $750.0 million depending on the amount of outstanding borrowings of the Borrowers from time to time during the duration of the Credit Agreement. The interest rates on borrowings under the

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Source: SEC EDGAR

accession 0001193125-23-245647

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