First American Enters $600 Million, Four-Year Credit Facility
First American Financial Corp. (FAF), 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. (JPM), U.S. Bancorp and Wells Fargo & Co. (WFC), 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.
To contact the reporter on this story: Dan Kraut in New York at Dkraut2@bloomberg.net
To contact the editor responsible for this story: Dan Kraut at email@example.com