Lincoln National enters $2.0 billion unsecured credit agreement maturing March 27, 2031
Lincoln National Corporation entered into a Third Amended and Restated Credit Agreement on March 27, 2026, with Bank of America, N.A. as administrative agent. The unsecured facility allows letters of credit and borrowing of up to $2.0 billion and replaces the agreement dated December 21, 2023. The filing describes it as containing customary terms and covenants, and the company's financing capacity is governed by these terms.
Key points
- Facility allows borrowing and letters of credit of up to $2.0 billion, unsecured
- Commitment termination date is March 27, 2031
- Letter of credit fee of 1.0% per annum and facility fee of 0.125% per annum, both adjusting with credit ratings
- Minimum consolidated net worth covenant set at $9,932,000,000 plus 50% of net equity issuance proceeds received after December 31, 2025
The filing
Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 31, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.