Assurant amends and restates $500 million five-year revolver

Chicago, Dec. 9 – Assurant Inc. amended and restated its $500 million five-year senior revolving credit facility with JPMorgan Chase Bank, NA as administrative agent on Dec. 9, according to an 8-K filed with the Securities and Exchange Commission.

The revolver matures in December 2026.

An accordion feature allows the company to increase the revolver an additional $200 million.

The pricing schedule, based on ratings, ranges from SOFR plus 100 basis points to 200 bps. There is a 0% SOFR floor.

The commitment fee is between 10 bps and 32.5 bps.

Proceeds may be used for general corporate purposes.

Wells Fargo Bank, NA is the syndication agent.

JPMorgan Chase Bank, NA and Wells Fargo Securities, LLC are the joint lead arrangers and joint bookrunners.

Co-documentation agents are BMO Harris Bank NA, Bank of Nova Scotia, Keybank NA and U.S. Bank NA.

The new facility replaces the company’s earlier $450 million credit facility from Dec. 15, 2017.

Assurant is a New York-based provider of risk management products and services.

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