Primerica, Inc. 8-K

What Happened
Primerica, Inc. announced on June 2, 2026 that it amended and restated its $200 million unsecured revolving credit facility, extending the maturity to June 2, 2031. The Second Amended Credit Facility was executed with a syndicate of banks led by The Bank of New York Mellon (administrative agent) and including Citibank, JPMorgan Chase, Royal Bank of Canada, The Bank of Nova Scotia and Wells Fargo. No amounts were outstanding under the facility when the amendment was executed. Borrowings may be used for general corporate purposes.

Key Details

• Facility size: $200 million unsecured revolving credit facility.
• New maturity: June 2, 2031 (previous facility was scheduled to expire June 22, 2026).
• Lenders/agents: The Bank of New York Mellon (Administrative Agent), Citibank, JPMorgan Chase, Royal Bank of Canada, The Bank of Nova Scotia, Wells Fargo.
• Pricing: Interest based on SOFR or base rate plus an Applicable Margin tied to Primerica’s Debt Rating; SOFR/LC margins range from 1.00%–1.625% p.a., base-rate margins 0.00%–0.625% p.a.
• Fees: Quarterly commitment fee on unused portion (0.08%–0.225% p.a., based on Debt Rating) and administrative fees to the agent.
• Covenants and protections: customary covenants (corporate existence, taxes, insurance), financial covenants including a leverage ratio (consolidated indebtedness to total capitalization) and a minimum consolidated net worth, and standard events of default (payment defaults, covenant breaches, insolvency, change of control, certain ERISA/judgment events).
• Status: No borrowings outstanding under the amended facility as of the 8-K filing date.

Why It Matters
This amendment secures a committed $200 million backstop through mid-2031, reducing near-term refinancing risk and preserving liquidity for general corporate needs. Pricing under the facility is tied to Primerica’s debt rating, so borrowing costs will vary with its credit profile; the agreement also imposes financial covenants that could affect capital decisions if they become binding. Because the facility was undrawn at filing, there is no immediate impact to cash balances or interest expense, but the amendment provides flexibility and a defined funding source if needed.