Loan & DebtMay 21, 2026, 04:24 PM
Travelers Secures New $1.2B Five-Year Revolving Credit Facility
AI Summary
The Travelers Companies, Inc. entered into a new $1.2 billion Five-Year Revolving Credit Agreement on May 15, 2026, replacing its previous $1.0 billion facility. The new agreement, set to expire on May 15, 2031, provides funds for general corporate purposes and includes an option to expand the credit available up to $1.8 billion with lender consent. A key covenant requires maintaining a consolidated net worth over goodwill and other intangible assets of at least $17.8 billion.
Key Highlights
- Entered into a new $1.2 billion Five-Year Revolving Credit Agreement.
- Replaced the previous $1.0 billion revolving credit agreement.
- New facility matures on May 15, 2031.
- Option to increase credit available up to $1.8 billion.
- Covenant: maintain consolidated net worth over goodwill of at least $17.8 billion.
- Citibank, BofA Securities, and JPMorgan Chase are joint lead arrangers.
Price Impact
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