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| UNM > SEC Filings for UNM > Form 8-K on 9-Dec-2008 | All Recent SEC Filings |
9-Dec-2008
Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation
On December 9, 2008, Unum Group (the "Company") entered into an unsecured $250,000,000 364-Day Senior Revolving Credit Facility among the Company, as borrower, the lenders named below, SunTrust Bank, as Documentation Agent, Bank of America, N.A., as Syndication Agent, and Wachovia Bank, National Association, as Administrative Agent, Issuing Lender and Swingline Lender (the "Agreement"). The Lenders who are parties to the Agreement are: Wachovia Bank, National Association; Bank of America, N.A.; SunTrust Bank; Fifth Third Bank; JPMorgan Chase Bank, N.A.; Morgan Stanley Bank, N.A.; PNC Bank, National Association; Regions Bank; Branch Banking and Trust Company; First Tennessee Bank National Association; Webster Bank, National Association; and National City Bank. Under the terms of the Agreement, the aggregate amount of commitments may be increased upon request up to $350,000,000.
Until December 8, 2009 (the "commitment termination date"), the Company may borrow under the revolving loan facility. After the commitment termination date, the revolving loans become due and payable in full unless the Company has converted them to term loans. No term loan may extend beyond the first anniversary of the commitment termination date (the "final maturity date").
Letters of credit may be issued until, but excluding, the commitment termination date, although they can be renewed or extended for one-year periods so long as the extension does not go beyond the final maturity date.
The Agreement provides for interest rates based on either the prime rate or LIBOR, as adjusted.
The Agreement contains financial covenants, negative covenants and events of default that are customary for a facility of this type.
As of December 9, 2008, there were no borrowings under the Agreement.
The information in Item 1.01 above is incorporated by reference into this Item.
On December 9, 2008, the Company issued a press release announcing that it had entered into the Agreement. A copy of the press release is attached as Exhibit 99.1 to this Current Report.
(d) Exhibits
Exhibit 99.1 Press release dated December 9, 2008.
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