Summary
Cincinnati Financial Corporation (CINF) announced the renewal of its $75 million unsecured line of credit with PNC Bank, N.A. This renewal extends the credit facility's availability for general corporate purposes from August 28, 2011, to August 27, 2012, effective August 29, 2011. CFC Investment Company, a subsidiary, also remains a borrower under this agreement. The terms of the credit line, including pricing and fees, remain unchanged from the previous agreement.
Key Highlights
- 1Renewal of $75 million unsecured line of credit with PNC Bank, N.A.
- 2Credit facility extended by one year, from August 28, 2011, to August 27, 2012.
- 3Effective date of renewal is August 29, 2011.
- 4The credit line is committed, providing reliable access to funds.
- 5Funds can be used for general corporate purposes, offering financial flexibility.
- 6CFC Investment Company, a subsidiary, is also a borrower.
- 7All other terms, including pricing and fees, remain unchanged.
Frequently Asked Questions
The main purpose of this 8-K filing is to report the renewal of Cincinnati Financial Corporation's material definitive agreement, specifically its $75 million unsecured line of credit with PNC Bank, N.A.
The line of credit has been renewed and extended to August 27, 2012.
No, the filing explicitly states that all other terms of the expiring agreement, including pricing and fees, are unchanged.
The borrowers are Cincinnati Financial Corporation and its leasing and financing services subsidiary, CFC Investment Company.