Form 8-K GLOBE LIFE INC. For: Apr 02

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April 2, 2024 11:40 AM EDT

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 2, 2024 (March 29, 2024)

GLOBE LIFE INC.

(Exact name of registrant as specified in its charter)

Delaware

001-08052

63-0780404

(State or other jurisdiction

of incorporation)

(Commission

File No.)

(I.R.S. Employer

ID No.)

3700 South Stonebridge Drive, McKinney, Texas 75070

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (972) 569-4000

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a.-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading symbol(s)	Name of each exchanged on which registered
Common Stock, $1.00 par value per share	GL	New York Stock Exchange
4.250% Junior Subordinated Debentures	GL PRD	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Item 1.01 Entry into a Material Definitive Agreement.

On March 29, 2024, Globe Life Inc. (“Globe Life”) and its subsidiary TMK Re Ltd. (“TMK”) entered into a Second 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 “Second Amended and Restated Credit Agreement”). The Second Amended and Restated Credit Agreement amends and restates the Amended and Restated Credit Agreement among the parties dated September 30, 2021 (the “Original Credit Agreement”).

The Second Amended and Restated Credit Agreement amends the following material terms of the Original Credit Agreement:

•Increasing the amount of the revolving credit facility from $750,000,000 to $1,000,000,000;

•Providing Globe Life with the ability to request an increase in the amount of revolving credit facility up to $1,250,000,000; provided the increase shall be in increments of $25,000,000 and Globe Life may make no more than two requests for such an increase per calendar year;

•Increasing the sublimit for same-day swing line loans from $35,000,000 to $50,000,000;

•Increasing the amount of FHLB debt that our insurance subsidiaries may incur and liens securing such FHLB debt from $1,500,000,000 to $2,500,000,000;

•Extending the Maturity Date to March 29, 2029; and

•Deleting Globe Life’s option to enter into an ESG amendment to the Second Amended and Restated Credit Agreement.

The credit facility may be extended for up to two one-year periods upon Globe Life’s request. Pursuant to this credit facility, the participating lenders have agreed to make revolving loans to Globe Life and to issue, up to a $250 million sublimit, either secured or unsecured letters of credit for either Globe Life or TMK, in the form of several letters of credit or fronted letters of credit. The foregoing description of the Second Amended and Restated Credit Agreement is qualified in its entirety by reference to the Second Amended and Restated Credit Agreement, which is attached to this Form 8-K as Exhibit 10.1 and which is incorporated by reference herein.

Globe Life and its subsidiaries from time to time have had, and may continue to have, various commercial, lending or other relationships with certain of the banks that are a party to the Second Amended and Restated Credit Agreement and their affiliates.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

(10.1) Second Amended and Restated Credit Agreement dated as of March 29, 2024 among Bank of America, N.A., t he Lenders party thereto, Globe Life Inc. and TMK RE, LTD

(104) Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GLOBE LIFE INC.

Date: April 2, 2024

/s/ Christopher T. Moore

Christopher T. Moore
Corporate Senior Vice President,
Associate Counsel and Corporate Secretary

ATTACHMENTS / EXHIBITS

EX-10.1

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