Franklin Resources, Inc. entered into a Second Amended and Restated Credit Agreement, refinancing its existing revolving credit facility. The new agreement maintains the aggregate commitment size at $1.5 billion while extending the maturity date and providing an option for future expansion.
Key Details
- Facility Size: The new five-year revolving credit facility provides for $1.5 billion in aggregate commitments, with an option to increase commitments by an additional $500 million.
- Maturity & Terms: The facility matures on July 30, 2031, extending the previous maturity date of April 30, 2030. As of the closing on July 30, 2026, $700 million was outstanding, which was rolled over from the previous agreement.
- Financial Covenants: The agreement includes a financial covenant requiring the company to maintain a consolidated net leverage ratio of no greater than 3.25 to 1.00.