---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-301198"
form_type: "8-K"
ticker: "LNC"
cik: "0000059558"
company_name: "LINCOLN NATIONAL CORP"
filed_at: "2023-12-21T23:59:59+00:00"
generated_at: "2026-06-07T09:32:12.599562+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Lincoln National enters $2.0B credit facility, extends maturity to Dec 2028

## Summary
- Second Amended and Restated Credit Agreement provides $2.0B of unsecured letters of credit and loans.
- Maturity date extended to December 21, 2028; commitment amount decreased from prior facility.
- Financial covenants: minimum consolidated net worth of $8.626B plus 50% of equity proceeds; debt-to-capital ratio ≤ 0.35:1.
- Facility fee of 0.15% p.a. and LC fee of 0.975% p.a., adjustable with credit rating changes.
- Covenants restrict liens, mergers, and asset sales; customary defaults with grace periods.

## SEC filing metadata
- accession: 0001193125-23-301198
- form_type: 8-K
- ticker: LNC
- cik: 0000059558
- company_name: LINCOLN NATIONAL CORP
- filed_at: 2023-12-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/59558/000119312523301198/0001193125-23-301198-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/59558/000119312523301198/d622688d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-301198
- JSON: https://secwatch.observer/filing/0001193125-23-301198.json
- Plain text: https://secwatch.observer/filing/0001193125-23-301198.txt

## Key facts
- Material Agreements
  LINCOLN NATIONAL CORP amended Second Amended and Restated Credit Agreement with a syndicate of banks, including Bank of America, N.A., as administrative agent valued at $2.0 billion (effective 2023-12-21).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: a syndicate of banks, including Bank of America, N.A., as administrative agent
  - Value: $2.0 billion
  - Effective: 2023-12-21
  source text: On December 21, 2023, Lincoln National Corporation (the “Company”) entered into an amended and restated credit agreement with a syndicate of banks, including Bank of America, N.A., as administrative agent, and the other lenders named therein (the “Second Amended and Restated Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/59558/000119312523301198/0001193125-23-301198-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.