Fidelity National Financial, Inc. (FNF): debt financing — FNF refinances $800M credit facility, extends maturity to 2029; F&G facility increased to $750M

Fidelity National Financial, Inc.

FNF amended and restated $800M credit facility, extending maturity from Oct 2025 to Feb 2029.
F&G subsidiary's credit facility increased from $665M to $750M, with maturity extended.
At current ratings (FNF BBB/Baa2), Term SOFR margin is 110 bps; F&G (BBB-/Ba1/BBB) margin is 165 bps.
Both facilities include customary financial covenants: minimum net worth and max debt-to-capitalization.

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. amended credit facility of $800 million with Bank of America, N.A. at Term SOFR plus a margin of between 90.0 and 147.5 basis points maturing February 16, 2029.

Instrument: credit facility
Principal: $800 million
Counterparty: Bank of America, N.A.
Rate: Term SOFR plus a margin of between 90.0 and 147.5 basis points
Maturity: February 16, 2029
Event: amendment

Exact text from the filing

entered into an amendment and restatement of its existing $800 million fifth amended and restated credit agreement

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

Fidelity National Financial, Inc. amended credit facility of $750 million with Bank of America, N.A. at Term SOFR plus a margin of between 130.0 and 180.0 basis points.

Instrument: credit facility
Principal: $750 million
Counterparty: Bank of America, N.A.
Rate: Term SOFR plus a margin of between 130.0 and 180.0 basis points
Event: amendment

Exact text from the filing

to (x) extend the maturity date and (y) increase the aggregate principal amount of commitments under the revolving credit facility to $750 million.

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

Fidelity National Financial, Inc. amended Restated F&G Credit Agreement with the guarantors party thereto, the financial institutions party thereto as lenders, and Bank of America, N.A. as Administrative Agent valued at $750 million (effective 2024-02-16).

Action: amendment
Agreement: credit facility
Counterparty: the guarantors party thereto, the financial institutions party thereto as lenders, and Bank of America, N.A. as Administrative Agent
Value: $750 million
Effective: 2024-02-16

Exact text from the filing

On February 16, 2024, F&G Annuities & Life, Inc. (“F&G"), a subsidiary of Fidelity National Financial, Inc., entered into an amendment and restatement of its existing $665 million credit agreement (the “Existing F&G Credit Agreement”), dated as of November 22, 2022, with the guarantors party thereto, the financial institutions party thereto as lenders, and BofA, as Administrative Agent, swing line lender and an issuing bank (the “Restated F&G Credit Agreement”).

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

Fidelity National Financial, Inc. amended Restated FNF Credit Agreement with Bank of America, N.A. as administrative agent and the financial institutions party thereto as lenders valued at $800 million (effective 2024-02-16).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A. as administrative agent and the financial institutions party thereto as lenders
Value: $800 million
Effective: 2024-02-16

Exact text from the filing

On February 16, 2024, Fidelity National Financial, Inc. (the “Company”) entered into an amendment and restatement of its existing $800 million fifth amended and restated credit agreement (as previously amended, the “Existing FNF Credit Agreement”), dated as of October 29, 2020, with Bank of America, N.A. (“BofA”), as administrative agent (in such capacity, the “Administrative Agent”), and the financial institutions party thereto as lenders (the “Restated FNF Credit Agreement”).

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299 debt financings filed in the last 30 days. Browse all debt financings →

Fidelity National Financial, Inc. filing history →

Source: SEC EDGAR

accession 0001331875-24-000012

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