Federated Investors amends, extends credit agreement to 2019

By Tali Rackner

Norfolk, Va., June 25 – Federated Investors, Inc. entered into an unsecured second amended and restated credit agreement by on Tuesday with PNC Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment pushes out the maturity of the old agreement to June 24, 2019 from June 10, 2016.

Federated said the swap that hedges its interest rate risk on the original term loan remains in effect through April 1, 2015. Under the terms of the swap, Federated pays a fixed rate of 3.521%.

PNC Capital Markets LLC is the bookrunner and joint lead arranger, Citigroup Global Markets, Inc. is a joint lead arranger and TD Bank NA is the documentation agent.

Federated Investors is a Pittsburgh-based fund manager.

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