Item 1.01. Entry into a Material Definitive Agreement.
On
Under the Revolving Credit Agreement, at our option, we can borrow on either a competitive advance basis or a revolving credit basis. The revolving credit portion bears interest at Term SOFR or the base rate plus a spread. The competitive advance portion of any borrowings will bear interest at market rates prevailing at the time of borrowing on either a fixed rate or a floating rate based on Term SOFR, at our option. The Company will pay an annual facility fee under the Revolving Credit Agreement regardless of utilization.
The Revolving Credit Agreement contain customary covenants, including a maximum
debt to capitalization financial condition covenant, as well as customary events
of default. The terms of the Revolving Credit Agreement also include standard
provisions related to conditions of borrowing, including customary
representations and warranties. In addition, the Revolving Credit Agreement
permits the incurrence, together with the company's existing
We have other relationships, including financial advisory and banking, with some parties to the Revolving Credit Agreement.
As of
The foregoing description of the Revolving Credit Agreement does not purport to be complete. For an understanding of the terms and provisions of the Revolving Credit Agreement, reference should be made to the copy of the agreement attached as Exhibit 10.1 to this Form 8-K and incorporated by reference herein.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an
Off-Balance Sheet Arrangement of a Registrant.
The information described above under Item 1.01 of this Current Report on Form 8-K is also responsive to Item 2.03 of this Current Report on Form 8-K and is incorporated by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits: Exhibit No. Description 10.1 364-Day$1.5 Billion Revolving Credit Agreement, dated as ofJune 3, 2022 , amongHumana Inc. , andJPMorgan Chase Bank, N.A . as Agent and as CAF Loan Agent,Bank of America, N.A . as Syndication Agent,Citibank, N.A .,Goldman Sachs Bank USA ,PNC Capital Markets LLC ,U.S. Bank National Association andWells Fargo Securities, LLC , as Documentation Agents, andJPMorgan Chase Bank, N.A .,BofA Securities, Inc. ,Goldman Sachs Bank USA ,Citibank, N.A .,PNC Capital Markets LLC ,U.S. Bank National Association andWells Fargo Securities, LLC , as Joint-Lead Arrangers and Joint Bookrunners. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
--------------------------------------------------------------------------------
© Edgar Online, source