Loan & DebtJun 29, 2026, 04:37 PM
Athene Secures New $1.75B Revolving Credit Facility
AI Summary
Athene Holding Ltd. and its subsidiaries entered into a new $1.75 billion revolving credit agreement with a syndicate of banks, including Citibank, N.A., as administrative agent. This agreement, which can be increased to $2.50 billion, replaces a previous facility from June 2023. The unsecured facility has a commitment termination date of June 26, 2031, and includes customary financial covenants such as maintaining a minimum consolidated net worth and a maximum debt to capitalization ratio.
Key Highlights
- New revolving credit agreement allows borrowings up to $1.75 billion, expandable to $2.50 billion.
- Replaces previous credit agreement dated June 30, 2023.
- Unsecured facility has a commitment termination date of June 26, 2031, with two 1-year extension options.
- Interest accrues at Term SOFR plus 0.875%-1.500% or Base Rate plus 0.000%-0.500%, based on debt rating.
- Undrawn commitment fee ranges from 0.070% to 0.175% based on the Company's Debt Rating.
- Financial covenants include maintaining a minimum Consolidated Net Worth of $22,059,963,000.
- Consolidated Debt to Capitalization Ratio not to exceed 40%.
Price Impact
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