Jackson Financial entered a new unsecured $1.25 billion revolving credit facility on June 30, 2026, for working capital and other general purposes, featuring a $500 million letter-of-credit sub-limit and an option to upsize by $500 million. The facility matures on June 30, 2031, with two one-year extension options subject to lender consent and pricing tied to the company’s debt ratings. Concurrently, Jackson Financial terminated its $1.0 billion revolver dated February 24, 2023, which had been scheduled to mature in February 2028, replacing it with the new facility. No termination fees were disclosed, and the company expects improved liquidity and flexibility.
New agreement details:
- Agreement type: Unsecured revolving credit facility
- Counterparty: Wells Fargo Bank, as Administrative Agent, and other lenders
- Signed / Effective: Jun 30 2026 / Jun 30 2026
- Duration / Termination: 5 years to Jun 30 2031; two 1-year extension options
- Reason: Enhance liquidity and replace 2023 revolver
Terminated agreement details:
- Agreement terminated: Unsecured revolving credit facility
- Counterparty: Bank of America, as Administrative Agent, and other lenders
- Original agreement date: Feb 24 2023
- Termination date: Jun 30 2026
- Termination type: Early
- Exit fees / payments: None
- Reason: Replaced by larger 2026 revolving credit facility
Original SEC Filing:
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