Grupo de Inversiones Suramericana S.A. ("Grupo SURA" or the "Company") hereby announces that it has signed a material financial agreement as part of its ongoing business development, which is intended to replace Grupo SURA’s current debt but carrying better terms and conditions, without this implying any increase in the Company´s current indebtedness, while forming part of its strategy of optimizing the rate and term conditions of its current financial obligations.
For this purpose, today Grupo SURA entered into a credit agreement, as part of a Club Deal facility (the "Agreement"), with Banco Bilbao Vizcaya Argentaria S.A. New York Branch and J.P. Morgan Securities PLC for a committed amount of USD 300,000,000.
This loan carries a term of five years beginning on the date this agreement is signed, and includes a two-year grace period for repaying the principal, with interest being recognized based on the SOFR rate plus a spread based on market conditions, this payable on a quarterly basis.
As is customary in this type of unsecured credit facility, the Agreement provides for certain default events that could have the effect of accelerating the obligations based on materiality and/or restricting the payment of dividends to its shareholders, solely and exclusively, in the event of a continuing event of default under the Agreement.