Lincoln National enters amended $2B credit facility maturing 2031

LINCOLN NATIONAL CORP

$2.0B unsecured revolving credit facility (letters of credit and loans) matures March 27, 2031; replaces Dec 2023 agreement.
Minimum consolidated net worth set at $9.932B plus 50% of equity issuance proceeds after Dec 31, 2025.
Debt-to-capital ratio capped at 0.35 to 1.00; secured non-operating debt of subsidiaries limited to 7.5% of total capitalization.
Facility fee 0.125% p.a. on aggregate commitment; letter of credit commission 1.0% p.a., subject to rating-based adjustments.

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

LINCOLN NATIONAL CORP entered into Third Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, and the other lenders named therein valued at $2.0 billion (effective 2026-03-27).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent, and the other lenders named therein
Value: $2.0 billion
Effective: 2026-03-27

Exact text from the filing

On March 27, 2026, 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 “Third Amended and Restated Credit Agreement”).

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Source: SEC EDGAR

accession 0001193125-26-134604

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