Fidelity National Financial, Inc. (FNF): debt financing — FNF subsidiary F&G enters $550M unsecured revolving credit facility

Fidelity National Financial, Inc.

F&G Annuities & Life (FNF subsidiary) signed $550M unsecured revolving credit facility on Nov 22, 2022.
Facility bears interest at Term SOFR plus 130-180 bps (currently 165 bps) based on F&G's debt ratings.
Proceeds for working capital and general corporate purposes; lenders include Bank of America, JPMorgan, RBC.
Covenants include minimum net worth, max debt-to-capitalization ratio of 35%, and RBC test at 300% threshold.
Certain F&G subsidiaries guarantee the facility; customary events of default and acceleration provisions apply.

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

Fidelity National Financial, Inc. incurred revolving credit of $550 million with the financial institutions party thereto as lenders and Bank of America, N.A. as administrative agent at Term SOFR plus a margin of between 130.0 and 180.0 basis points.

Instrument: revolving credit
Principal: $550 million
Counterparty: the financial institutions party thereto as lenders and Bank of America, N.A. as administrative agent
Rate: Term SOFR plus a margin of between 130.0 and 180.0 basis points
Event: incurrence

Exact text from the filing

On November 22, 2022, F&G Annuities & Life, Inc. (“ F&G ), a subsidiary of Fidelity National Financial, Inc., entered into a Credit Agreement (the “ Credit Agreement ”) with the financial institutions party thereto as lenders (the “ Lender s ”) and Bank of America, N.A. as administrative agent (in such capacity, the “ Administrative Agent ”), swing line lender and an issuing bank, pursuant to which the Lenders have made available to F&G an unsecured revolving credit facility in an aggregate principal amount of $550 million

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Fidelity National Financial, Inc. entered into Credit Agreement with the financial institutions party thereto as lenders and Bank of America, N.A. as administrative agent valued at $550 million (effective 2022-11-22).

Action: entry
Agreement: credit facility
Counterparty: the financial institutions party thereto as lenders and Bank of America, N.A. as administrative agent
Value: $550 million
Effective: 2022-11-22

Exact text from the filing

On November 22, 2022, F&G Annuities & Life, Inc. (“ F&G ), a subsidiary of Fidelity National Financial, Inc., entered into a Credit Agreement (the “ Credit Agreement ”) with the financial institutions party thereto as lenders (the “ Lender s ”) and Bank of America, N.A. as administrative agent (in such capacity, the “ Administrative Agent ”), swing line lender and an issuing bank, pursuant to which the Lenders have made available to F&G an unsecured revolving credit facility in an aggregate principal amount of $550 million

View on SEC.gov

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Fidelity National Financial, Inc. filing history →

Source: SEC EDGAR

accession 0001331875-22-000096

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