Raymond James expands credit facility to $750 million, extends to 2028

By Mary-Katherine Stinson

Lexington, Ky., April 12 – Raymond James Financial, Inc. and Raymond James & Associates, Inc. as borrowers entered an amended and restated credit agreement on April 6, according to an 8-K filing with the Securities and Exchange Commission.

The amendment increases the facility to $750 million from $500 million and extends the maturity date to April 6, 2028.

It also modifies the interest rate provision to allow for borrowings in alternative currencies.

SOFR loans bear interest with a margin, based on ratings, of 91 bps to 142.5 bps for loans made to Raymond James Financial.

For loans made to Raymond James Associates, the margin will be between 78.5 bps to 130 bps.

The facility, for either borrower, is 9 bps to 20 bps.

Bank of America, NA is the administrative agent and a swingline lender.

BofA Securities, Inc., Citibank, NA, JPMorgan Chase Bank, NA, PNC Capital Markets LLC, Regions Capital Markets and U.S. Bank NA are the joint lead arrangers and bookrunners.

Citibank, JPMorgan, PNC, Regions and U.S. Bank are also co-syndication agents and swingline lenders.

The investment banking company is based in St. Petersburg, Fla.

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