Horace Mann Educators Corporation entered into a Fourth Amendment to its Amended and Restated Credit Agreement, extending the commitment termination date to May 19, 2030. The previous termination date was July 12, 2026.
The amendment also replaces the Eurodollar-based interest rate benchmark with a Term SOFR Rate, including a ten basis point adjustment for Term SOFR Rate loans. The applicable rate for Term SOFR Rate borrowings remains at 115 basis points, and the unused commitment fee at 15 basis points.
As of May 19, 2025, the company's outstanding balance under the Credit Agreement remained at $0, with $325 million of available commitments. This amendment ensures continued access to liquidity and updates the credit facility to current market standards.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.