AllianceBernstein sets up seven-year $900 million facility via AXA

By Wendy Van Sickle

Columbus, Ohio, Nov. 4 – AllianceBernstein LP established a seven-year $900 million committed, unsecured senior credit facility with AXA Equitable Holdings, Inc., according to an 8-K filing with the Securities and Exchange Commission.

The facility matures on Nov. 4, 2024 and is available for AllianceBernstein's general business purposes. Borrowings generally bear interest at a rate based on prevailing overnight commercial paper rates.

The facility contains affirmative, negative and financial covenants that are substantially similar to those of the company’s committed bank facilities.

Amounts may be borrowed, repaid and re-borrowed from time to time until the maturity of the facility.

AllianceBernstein is an investment firm based in New York.

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