Company: CI
Filing Date: 2025-04-28
Form Type: 8-K
Source: 0001140361-25-016027
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Company: Cigna Group
Filing Date: 2025-04-28
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

On April 24, 2025, The Cigna Group (the “ Company”) entered into a $6.5 billion Revolving Credit and Letter of Credit Agreement with the banks named therein, JPMorgan Chase
Bank, N. A., as administrative agent, and BofA Securities, Inc., Citibank, N. A., Morgan Stanley Senior Funding, Inc. and Wells Fargo Securities, LLC, as joint lead arrangers and joint bookrunners (the “ Credit Agreement”). The Credit Agreement replaces
in full the Company’s existing revolving credit facilities.

The Credit Agreement provides for revolving borrowings at any time and from time to time for a duration of five years up to a maximum amount of $6.5 billion to be used for
general corporate purposes, with up to $500 million available for issuance of letters of credit. The Credit Agreement includes options to (i) increase commitments in an aggregate amount of up to $1.5 billion for a maximum total commitment of $8.0
billion and (ii) extend the maturity date for additional one-year periods, each subject to the consent of the banks.

The Credit Agreement provides for interest rate options on advances at rates equal to either: (x) in the case of base rate advances, the highest of (i) the rate of interest
last quoted by the Wall Street Journal as the “prime rate,” or, if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board, (ii) the federal funds rate, plus 0.50%, and (iii) the
one-month term secured overnight financing rate (but not less than zero) plus 1.0%, in each case plus an applicable margin based on the Company’s senior unsecured credit Ratings (as defined in the Credit Agreement); (y) in the case of term benchmark
rate advances, the rate per annum equal to the term secured overnight financing rate (but not less than zero), plus an applicable margin based on the Company’s senior unsecured credit Ratings; or (z) in the case of daily benchmark rate advances, the
rate per annum equal to the daily simple secured overnight financing rate (but not less than zero), plus an applicable margin based on the Company’s senior unsecured credit Ratings.

The Credit Agreement contains customary covenants and restrictions, including a financial covenant that the Company may not permit its leverage ratio -