Fidelity National Financial Enters Material Agreement, New Financial Obligation

Ticker: FNF · Form: 8-K · Filed: Feb 16, 2024 · CIK: 1331875

Sentiment: neutral

Topics: material-agreement, debt, corporate-action

TL;DR

**FNF just took on new debt and signed a big deal, watch for details!**

AI Summary

Fidelity National Financial, Inc. filed an 8-K on February 16, 2024, reporting an entry into a material definitive agreement and the creation of a direct financial obligation. The filing indicates the company's principal executive offices are located at 601 Riverside Avenue, Jacksonville, Florida 32204, and its business phone number is 904-854-8100. This report was filed under the Securities Exchange Act of 1934.

Why It Matters

This filing signals new financial commitments and agreements for Fidelity National Financial, which could impact its future financial performance and operational structure.

Risk Assessment

Risk Level: medium — The filing indicates new financial obligations and material agreements, which could introduce new risks or opportunities depending on their nature and terms, which are not fully detailed in this summary.

Key Players & Entities

FAQ

What was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on February 16, 2024.

What type of events did Fidelity National Financial, Inc. report in this 8-K?

Fidelity National Financial, Inc. reported an "Entry into a Material Definitive Agreement" and "Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant."

What is the business address of Fidelity National Financial, Inc. as stated in the filing?

The business address of Fidelity National Financial, Inc. is 601 Riverside Avenue, Jacksonville, Florida 32204.

What is the Commission File Number for Fidelity National Financial, Inc.?

The Commission File Number for Fidelity National Financial, Inc. is 001-32630.

Under which act was this Current Report filed?

This Current Report was filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Filing Stats: 1,600 words · 6 min read · ~5 pages · Grade level 13 · Accepted 2024-02-16 08:29:54

Key Financial Figures

Filing Documents

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement FNF Sixth Amended & Restated Credit Agreement On February 16, 2024, Fidelity National Financial, Inc. (the "Company") entered into an amendment and restatement of its existing $800 million fifth amended and restated credit agreement (as previously amended, the "Existing FNF Credit Agreement"), dated as of October 29, 2020, with Bank of America, N.A. ("BofA"), as administrative agent (in such capacity, the "Administrative Agent"), and the financial institutions party thereto as lenders (the "Restated FNF Credit Agreement"). Among other changes, the Restated FNF Credit Agreement amends the Existing FNF Credit Agreement to extend the maturity date from October 29, 2025 to February 16, 2029. Revolving loans under the Restated FNF Credit Agreement generally bear interest at a variable rate based on either (i) the base rate (which is the highest of (a) one-half of one percent in excess of the federal funds rate, (b) the Administrative Agent's "prime rate", (c) the sum of one percent plus one month Term SOFR, or (d) 1.00%) plus a margin of between 0.0 and 47.5 basis points depending on the senior unsecured long-term debt ratings of the Company or (ii) Term SOFR plus a margin of between 90.0 and 147.5 basis points depending on the senior unsecured long-term debt ratings of the Company. At the current Standard & Poor's and Moody's senior unsecured long-term debt ratings of BBB/Baa2, respectively, the applicable margin for revolving loans subject to Term SOFR is 110 basis points. In addition, the Company will pay a commitment fee of between 10.0 and 27.5 basis points on the entire facility, also depending on the Company's senior unsecured long-term debt ratings. Under the Restated FNF Credit Agreement, the Company is subject to customary affirmative, negative and financial covenants, including, among other things, limits on the creation of liens, limits on the incurrence of subsidiary indebtedness, a minimum net wor

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Description 10.1 Sixth Amended and Restated Credit Agreement, dated as of February 16, 2024, by and among Fidelity National Financial, Inc., a Delaware corporation, as the borrower, Bank of America, N.A., as administrative agent, and the financial institutions party thereto as lenders. 10.2 Amended and Restated Credit Agreement, dated as of February 16, 2024, by and among F&G Annuities & Life, Inc., a Delaware corporation, as the borrower, the guarantors party thereto, Bank of America, N.A., as administrative agent, and the financial institutions party thereto as lenders. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Fidelity National Financial, Inc. Date: February 16, 2024 By: /s/ Michael L. Gravelle Name: Michael L. Gravelle Title: Executive Vice President, General Counsel and Corporate Secretary EXHIBIT INDEX Exhibit Number Description 10.1 Sixth Amended and Restated Credit Agreement, dated as of February 16, 2024, by and among Fidelity National Financial, Inc., a Delaware corporation, as the borrower, Bank of America, N.A., as administrative agent, and the financial institutions party thereto as lenders. 10.2 Amended and Restated Credit Agreement, dated as of February 16, 2024, by and among F&G Annuities & Life, Inc., a Delaware corporation, as the borrower, the guarantors party thereto, Bank of America, N.A., as administrative agent, and the financial institutions party thereto as lenders.

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