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GLOBE LIFE INC.

(GL)
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Globe Life Inc. and TMK Re, Ltd. Enters into an Amended and Restated Credit Agreement Among Bank of America, N.A

10/01/2021 | 04:21pm EST

On September 30, 2021, Globe Life Inc. and TMK Re Ltd. entered into an Amended and Restated Credit Agreement among Bank of America, N.A. ("BofA), as Administrative Agent, Swing Line Lender, and L/C Administrator, each Lender from time to time a party thereto, Globe Life, as the Borrower, and TMK as a Loan Party (the "Amended and Restated Credit Agreement"). The Amended and Restated Credit Agreement amends and restates the original credit agreement among the parties dated August 20, 2020 (the "Original Credit Agreement"). The Amended and Restated Credit Agreement amends the following material terms of the Original Credit. Agreement: Reducing the Facility Fees, Eurodollar Rate, Letter of Credit Fees and Base Rate paid by Globe Life; Extending the Maturity Date to September 30, 2026; Revising procedures for replacing LIBOR as the Benchmark for Eurodollar Rate Loans; and Providing Globe Life with the option to establish certain key performance indicators ("KPIs") with respect to Environmental, Social and Governance ("ESG") targets in consultation with BofA, as Sustainability Coordinator, and to amend the Amended and Restated Credit Agreement solely to incorporate such KPIs (the "ESG Amendment"). The ESG Amendment may provide for a decrease of up to 1.00 basis point in the Applicable Rate for the Facility Fee and up to 4.00 basis points in the Applicable Rate for Base Rate Loans, Eurodollar Rate Loans and Letter of Credit commissions subject to meeting such KPIs.


ę S&P Capital IQ 2021
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Analyst Recommendations on GLOBE LIFE INC.
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Financials (USD)
Sales 2021 5 066 M - -
Net income 2021 750 M - -
Net Debt 2021 1 949 M - -
P/E ratio 2021 11,7x
Yield 2021 0,92%
Capitalization 8 609 M 8 609 M -
EV / Sales 2021 2,08x
EV / Sales 2022 2,00x
Nbr of Employees 3 261
Free-Float 87,5%
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Mean consensus HOLD
Number of Analysts 7
Last Close Price 85,26 $
Average target price 105,43 $
Spread / Average Target 23,7%
EPS Revisions
Managers and Directors
Larry M. Hutchison Co-Chairman & Co-Chief Executive Officer
Gary L. Coleman Co-Chairman & Co-Chief Executive Officer
Frank M. Svoboda Chief Financial Officer & Executive Vice President
James Eric McPartland Chief Information Officer & Executive VP
Joel P. Scarborough Senior Vice President-Legal & Compliance