Ameriprise restates $750 million five-year revolver via Wells Fargo

By Wendy Van Sickle

Columbus, Ohio, Oct. 16 – Ameriprise Financial, Inc. amended and restated its credit agreement with Wells Fargo Bank, NA as administrative agent on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

The amended and restated credit agreement provides for a $750 million five-year unsecured revolving credit facility and contains a $250 million accordion feature.

The initial interest rate is Libor plus 90 basis points, and the initial facility fee is 10 bps.

The margin above Libor can range from 79.5 bps to 130 bps and the facility fee from 8 bps to 20 bps, both depending on Ameriprise’s debt ratings.

Wells Fargo Securities, LLC, BofA Merrill Lynch and Citigroup Global Markets Inc. are the joint lead arrangers and bookrunners. Bank of America, NA and Citibank, NA are the co-syndication agents. Credit Suisse AG, Cayman Islands Branch, Goldman Sachs Bank USA, HSBC Bank USA, NA, JPMorgan Chase Bank, NA and U.S. Bank NA are the co-documentation agents.

The agreement amends the credit agreement dated May 1, 2015.

Extensions of credit under the facility may be applied for working capital or any other general corporate purposes and may be made in the form of revolving loans, swingline loans and bid loans, as well as letters of credit.

The lending commitments are scheduled to expire on Oct. 12, 2022.

The financial planning and services company is based in Minneapolis.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.