Globe Life Inc. and TMK Re, Ltd. enter into an amended and restated credit agreement between Bank of America, NA
On September 30, 2021, Globe Life Inc. and TMK Re Ltd. have entered into an Amended and Restated Credit Agreement between Bank of America, NA (“BofA), as Administrative Agent, Swing Line Lender and Administrator of L / C, each Lender from time to time, a party to that here, Globe Life, as the borrower, and TMK as a party to the loan (the “Amended and Restated Credit Agreement”). The Amended and Restated Credit Agreement amends and restates the Credit Agreement between the parties dated August 20, 2020 (the “Original Credit Agreement”). The Amended and Restated Credit Agreement modifies the following material terms of the Original Credit Agreement: Reduction of Facility Fees, Eurodollar rate, letter of credit fees and base rate paid by Globe Life; Extend maturity date to September 30, 2026; Revise procedures for replacing LIBOR as a benchmark for loans at eurodollar rate; and Offer Globe Life the possibility of establishing this r certain key performance indicators (“KPIs”) with regard to the environment, social and governance objectives (“ESG”) in consultation with BofA, as coordinator of sustainable development, and to modify the credit agreement amended and updated only to incorporate these key performance indicators (the “ESG Amendment”). The ESG amendment may provide for a decrease of up to 1.00 basis point of the rate applicable for the credit commission and up to 4.00 basis points of the rate applicable for base rate loans, loans at eurodollar rates and commissions on letters of credit, subject to compliance with these KPIs. .