Jackson Financial secures $1.25B revolving credit facility

Jackson Financial Inc. (NYSE: JXN) entered into a revolving credit agreement on June 30, 2026, with a syndicate of banks, with Wells Fargo Bank, National Association, serving as administrative agent.

The credit agreement provides $1.25 billion in aggregate commitments for working capital and general corporate purposes, including a $500 million sub-limit for letters of credit. The company also has the option to request up to an additional $500 million in commitments, subject to customary terms and conditions.

Borrowings under the agreement are unsecured. Interest rates may be based on a Base Rate or a Term SOFR Rate, with margins ranging from 1.125% to 1.875% for Term SOFR Rate borrowings and from 0.125% to 0.875% for Base Rate borrowings, depending on ratings assigned to the company's senior unsecured debt.

Commitments under the agreement terminate on June 30, 2031, with two one-year extension options available, subject to lender approval. The new facility replaces the company's existing $1 billion revolving credit agreement dated February 24, 2023, which had Bank of America, N.A. as administrative agent and was set to terminate in February 2028.

The agreement includes financial maintenance covenants, including a minimum adjusted consolidated net worth requirement and a maximum consolidated indebtedness to total capitalization ratio not exceeding 35%.

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