AFFILIATED MANAGERS GROUP, INC. 8-K

What Happened

• On June 9, 2026, Affiliated Managers Group, Inc. (AMG) entered into a Fourth Amended and Restated Credit Agreement establishing a $1.25 billion senior unsecured multicurrency revolving credit facility, with Bank of America, N.A. as administrative agent, letter of credit issuer and swingline lender. The agreement amends and restates AMG’s prior credit agreement dated November 15, 2024.
• The facility matures on June 9, 2031 and, subject to certain conditions, commitments may be increased by up to $750 million. Borrowings can be used for working capital and general corporate purposes, including investments in affiliates, debt repayment, share repurchases and cash dividends.

Key Details

• Size and type: $1.25 billion senior unsecured multicurrency revolving credit facility; potential accordion increase of up to $750 million.
• Maturity: June 9, 2031.
• Agent/lenders: Bank of America, N.A. serves as administrative agent, letter of credit issuer and swingline lender; other lending institutions are parties to the facility.
• Covenants and uses: Includes customary affirmative/negative covenants and financial covenants covering leverage and interest coverage; proceeds may fund working capital, investments in affiliates, debt repayment, stock repurchases and dividend payments.

Why It Matters

• This agreement provides AMG with committed liquidity and flexibility through mid-2031 to support operations, strategic investments, capital returns (buybacks/dividends) and debt management.
• The facility is unsecured and contains leverage and interest-coverage covenants and customary events of default, which could limit actions or accelerate amounts due if breached. Investors should view this as a near-term financing backstop that also imposes covenant constraints the company must manage.