SAFECO Sets Up New Credit Facility Deal
Seattle-based SAFECO has set up a $500 million three-year revolving credit facility which will expire in Sept. of 2005.
The new facility replaces an $800 million credit facility that provided liquidity for SAFECO’s $300 million commercial paper program as well as working capital for general corporate purposes. SAFECO has paid down and closed its commercial paper program through proceeds from its recent bond issuance.
Bank of America N.A. is acting as administrative agent on the credit facility.
Popular Today
- People Moves: Consilium Taps Carpenter’s Coleman for C-Suite After Co-CEO Baird Suddenly Exits; Everest Promotes Shaw as Chief Commercial Officer of Int’l Division
- Three Insurers Join Ward’s Annual Top 50 P/C Ranking for 2025
- Ken Griffin-Backed Florida Bill for Non-Competes Becomes Law
- Nursing Homes Struggle With Trump’s Immigration Crackdown