8-K - Lincoln National Corporation | StockGist

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Lincoln National Corporation entered into a Third Amended and Restated Credit Agreement, amending its existing $2.0 billion unsecured revolving credit facility and extending the commitment termination date to March 27, 2031.

Key Takeaways

1The Company entered into a Third Amended and Restated Credit Agreement on March 27, 2026, amending and restating the prior agreement dated December 21, 2023.

2The facility remains unsecured with a total commitment of $2.0 billion, available for letters of credit and borrowings.

3The commitment termination date was extended by approximately one year to March 27, 2031.

4Financial covenants include a minimum consolidated net worth of $9,932,000,000 plus 50% of net proceeds from equity issuances after December 31, 2025.

5The agreement includes a debt-to-capital ratio covenant not to exceed 0.35 to 1.00.

6Bank of America, N.A. serves as the Administrative Agent for the syndicate of lenders.

Current Report Details

Event Type

Material Agreement

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

. | Entry into a Material Definitive Agreement | |---|---| On March 27, 2026, Lincoln National Corporation (the “Company”) entered into an amended and restated

Material Agreement

$2.00B$9.93B

Source Document

9.01

. | Financial Statements and Exhibits | |---|---| (d) Exhibits Exhibit Number: 10.1 | Description: Third Amended and Restated Credit Agreement, dated as of Marc

Exhibits Only

Transaction Details

Material Agreement

Agreement: Third Amended and Restated Credit Agreement
Parties: Lincoln National Corporation, Subsidiary Account Parties, Bank of America, N.A., as Administrative Agent, Various Banks

•Agreement dated March 27, 2026
•Amends and restates the Second Amended and Restated Credit Agreement dated December 21, 2023
•Unsecured facility
•Total commitment of $2,000,000,000
•Commitment termination date of March 27, 2031
•Facility fee of 0.125% per annum on aggregate commitment (subject to ratings-based pricing grid)
•Letter of credit fee of 1.0% per annum on issued syndicated letters of credit (subject to ratings-based pricing grid)
•Minimum consolidated net worth covenant: $9,932,000,000 plus 50% of aggregate net cash proceeds of equity issuances after December 31, 2025
•Debt-to-capital ratio covenant not to exceed 0.35 to 1.00
•Cap on secured non-operating indebtedness and subsidiary non-operating indebtedness equal to 7.5% of total capitalization

Exhibits (2)

10.1

EX-10.1

8-K