First American Enters $600 Million, Four-Year Credit Facility

First American Financial Corp., the second-largest U.S. title insurer, entered a four-year, $600 million senior secured revolving credit facility priced 75 basis points below the agreement it replaces.

The latest deal, with banks led by JPMorgan Chase & Co., U.S. Bancorp and Wells Fargo & Co., replaces a $400 million facility that was scheduled to mature on June 1, the Santa Ana, California-based insurer said today in a statement distributed by PR Newswire.

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