01—Abstract
Summary
Summary of the 8-K filed September 23, 2025. Cited figures are marked; the original filing is the authoritative source.
On September 23, 2025, Raymond James Financial, Inc. entered into a Second Amended and Restated Credit Agreement with Raymond James & Associates, Inc., a syndicate of lenders, and Bank of America, N.A. as administrative agent.
The agreement amends and restates the Company's existing unsecured Amended and Restated Credit Agreement dated April 6, 2023, as amended. The amended facility extends the maturity date for any borrowings to September 23, 2030, and increases the facility amount to $1,000,000,000a. The applicable interest rate spread is decreased, with borrowings bearing interest at the Base Rate, Term SOFR Rate, Daily Floating Term SOFR Rate or Alternative Currency Term Rate plus an applicable rate ranging from 0.000% to 1.300%, down from a range of 0.000% to 1.425%.
The rate is determined by reference to the Company's non-credit-enhanced, senior unsecured long-term debt ratings. The filing is a credit facility update and does not report financial results. The full agreement is filed as Exhibit 10.1, with certain schedules and attachments omitted under Item 601(a)(5) of Regulation S-K.
02—Key points
Key Highlights
- Entered into a Second Amended and Restated Credit Agreement on September 23, 2025, with Bank of America, N.A. as administrative agent
- Maturity for borrowings extended to September 23, 2030
- Facility amount increased to $1,000,000,000
- Applicable rate range decreased to 0.000% to 1.300% from 0.000% to 1.425%
- Pricing is tied to the Company's non-credit-enhanced, senior unsecured long-term debt ratings
- Agreement is unsecured and amends and restates the April 6, 2023 credit agreement
- Full agreement filed as Exhibit 10.1; certain schedules omitted under Regulation S-K Item 601(a)(5)
03—Questions
Frequently Asked Questions
What did Raymond James Financial enter into?
The Company entered into a Second Amended and Restated Credit Agreement, which amends and restates its existing unsecured credit agreement dated April 6, 2023, as amended. The lenders are led by Bank of America, N.A. as administrative agent, and Raymond James & Associates, Inc. is also a party.
How much capacity does the amended facility provide?
The facility amount is increased to $1,000,000,000.
When does the amended credit facility mature?
Borrowings under the Second Amended and Restated Credit Agreement have a maturity date of September 23, 2030.
How has the interest rate on borrowings changed?
Borrowings bear interest at the applicable Base Rate, Term SOFR Rate, Daily Floating Term SOFR Rate or Alternative Currency Term Rate plus an applicable rate ranging from 0.000% to 1.300%, decreased from a range of 0.000% to 1.425%. The applicable rate is determined by the Company's non-credit-enhanced, senior unsecured long-term debt ratings.
Where can investors find the complete terms of the agreement?
The filing states that the summary is qualified in its entirety by the full agreement, filed as Exhibit 10.1 to the Current Report on Form 8-K. Certain schedules and similar attachments have been omitted under Item 601(a)(5) of Regulation S-K, and the Company undertakes to furnish them to the SEC upon request.
04—Continue