Assurant obtains new four-year $350 million revolving credit facility

By Aleesia Forni

Columbus, Ohio, Sept. 27 - Assurant Inc. entered a new $350 million four-year unsecured revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Sept. 21.

This facility allows for revolving loans and the issuance of multi-bank, syndicated letters of credit.

Proceeds may be used for the company's commercial paper program and general corporate purposes.

Subject to certain conditions, the company has the option to increase the total amount available under the facility to $525 million.

This facility replaces an existing $350 million revolver set to expire in December 2012.

JPMorgan Chase Bank NA is administrative agent and Bank of America NA is syndication agent.

Assurant is a New York-based specialty insurance provider.

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